Last week I reported that sales of existing homes had taken a nosedive. The reports are now out for sales of new homes. It looks like things are slow, but are at least increasing slightly (from February’s slow sales). While the trend is up from Feb., you should keep in mind that although sales are up from last month, they are still well behind last year. Even so, any increase is good news for a struggling real estate industry. While some areas of the country continue to enjoy strong RE sales, much of the country languishes in a RE sales downturn that ranges from slight to devastating. To see the data on new home sales for the first quarter, click here.
In a related story, CNN is reporting that the entire economy is slowing, being led by the downturn in housing. You can read that story by clicking here.
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