by Calculated Risk on 9/26/2011 07:35:00 PM
Monday, September 26, 2011
Alejandro Lazo at the LA Times wrote today: New home sales stuck at the bottom in August
"This year is shaping up to be the worst year on record for new home sales," [Patrick Newport, U.S. economist with IHS Global Insight] wrote in a note.The Census Bureau started tracking New Home sales in 1963, and the record low was 412,000 in 1982 - until that record was broken in 2009 - and then again in 2010 - and it looks another new record in 2011.
Here is a table of the last ten years - remember that sales in 2009 and 2010 were boosted by the tax credit.
|New Home Sales|
|Year||Total||Total through August|
|1Current 2011 Pace|
On August Home Sales:
• New Home Sales decline slightly in August
• Last week: Existing Home Sales in August: 5.0 million SAAR, 8.5 months of supply
• Graph Galleries: New Home Sales and Existing Home Sales
Posted by Calculated Risk on 9/26/2011 07:35:00 PM