More bad news: New housing sales fall
Each day, it seems, brings more bad news regarding the residential real estate market. Yesterday was no exception.
The U.S. Commerce Department reported that sales of newly built homes fell to a 12-year low in November. Such sales dropped 9 percent from October to November.
The numbers look even worse on a year-to-year basis: New-home sales were down 34 percent this November when compared to the same period one year earlier.
Sometimes I feel like a broken record, but this report offers further proof — as if anyone needed it — that residential real estate’s slump is a deep one, and one that won’t be easing anytime soon.
My advice? If you don’t want to hear any more bad news about the housing industry, don’t read the paper, don’t turn on the TV and don’t listen to the radio. That shouldn’t be too hard, right?
Tags: new-home-sales, U.S.-Commerce-DepartmentRelated Stories
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