New House Sales Dragging At Normal Seasons Peak

[flip_it_fast]

The sale rate of newly built, single-family homes is down 2.5 percent now, which is normally the peak of home-buying.

Relief may be on the way though. Many potential buyers are holding off for the temporary home-buyer tax credit. This may encourage buyers to purchase property and may be the economic boost the doctor has ordered.

The Commerce Department has reported that sales of newly built, single-family homes are down 2.5 percent. "The nation's housing market clearly continues to display fundamental weakness, and today's numbers are in line with what builders have been telling us in our regular surveys," said NAHB Chief Economist David Seiders.

by Realty Times Staff

I hope this will help not only real estate investors but also the average American looking to provide a home for their family. It may help everyone by creating a little economic flow, which has been at a standstill.

New House Sales Dragging At Normal Seasons Peak

[missmanors]

The nation's economy has sales of everything dragging right now, I would think. With the foreclosure mess that is going on, I am sure that people are dragging their feet on buying a new home, because they really don't know where the mortgage problems are going to go from here. At least I would be doing so, it's scary to think about the trouble others have gotten into lately, and not know if you could be next.

I hope there is some kind of solution soon. Our country needs some relief from this huge slump we are having in our economy at this time.