« House Panel Approves $15 Billion Foreclosure Bill | Main | Wolters Kluwer and FIS Partner to Offer Loan Mods and Compliance »
April 25, 2008
New-Home Sales Fall to Low Last Seen in Early 1990s
The Commerce Department reports an 8.5 percent drop in new-home sales to an annual pace of 526,000 in March, with economists blaming the largest job cuts since the start of the year for the greater than expected decline. New-home sales have not seen such low levels since the 1990s housing recession, and the 11-month supply of unsold new homes marks a 27-year high.
Posted by S. Germain at April 25, 2008 08:04 AM