Wednesday, Aug 25, 2010
More bear food from across the pond
Bloomberg: Sales of U.S. New Homes Dropped to Record Low in July
Sales of U.S. new homes unexpectedly dropped in July to the lowest level on record, signaling that even with cheaper prices and reduced borrowing costs the housing market is retreating. Purchases fell 12 percent from June to an annual pace of 276,000, the weakest since data began in 1963, figures from the Commerce Department showed today in Washington. The median price of $204,000 was the lowest since late 2003.
Posted by jack c @ 05:47 PM (644 views) Add Comment
2 Comments
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2. sureseam said...
Perhaps referring to the same underlying information is this on ZeroHedge:
http://www.zerohedge.com/article/rosenberg-explains-why-not-one-new-home-priced-over-750000-sold-july
No new builds costing more than $750,000 actually sold in July in the whole USA - apparently.
Given the (VI) feeling here that the high end is particularly immune - this is interesting.