New Home Sales Rise 5% In The West
2010 January 27
new home sales
Yesterday the National Association of Realtors reported that existing home sales for December were off 16.7% month-to-month. If that’s not bad enough, today the Census Bureau said new home sales plunged to a 9-month low in December.
These results are the weakest since March. Indications are that demand remains sluggish despite newly expanded tax incentives to spur sales.
The good news in this report is that new home sales in the west actually rose 5 percent On the other hand, the Midwest saw sales of new homes plummet by 41 percent. In the south, sales were off 7 percent.
San Diego real estate agent
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I look for the recovery to start right after the state of the union address. Why? Hope. We need hope as a nation. From there, give it about a year to win back the confidence needed. The economy is all about confidence.
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You also have to look at the season. Wait for the summer, move outs and change of cities for kids in school happen, just wait!
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