DoubleBubbleTrouble Posted March 24, 2006 Share Posted March 24, 2006 (edited) http://quote.bloomberg.com/apps/news?pid=1...efer=news_index March 24 (Bloomberg) -- Sales of new homes in the U.S. had the biggest drop in almost nine years in February and the number of properties on the market rose, evidence the housing market is cooling after a five-year boom.Sales fell 10.5 percent to an annual rate of 1.08 million, the lowest since May 2003, from a revised 1.207 million in January. The number of homes for sale rose to a record 548,000 from January's 525,000. Builders such as KB Home say orders are falling as higher interest rates make home-buying less affordable for some Americans. At the current sales pace, there were enough new homes on the market to satisfy demand for the next 6.3 months, the largest amount in more than a decade. ... Oops there was another thread, but this is a different source and a fuller story. Edited March 24, 2006 by DoubleBubbleTrouble Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.