Lowest new home sales on record


How low can it go?

Too much inventory in the market. Too many options for potential buyers and increased rules on what it takes to obtain a qualified loan.

I dont see the new housing market making any dramatic changes anytime soon.

The glut of foreclosures is killing biz ,but all you can do is hang in.

The tide is changing here in Florida. Hang on boys, I think its going to change. They once said first in, is first out. Florida was the first in the crapper because most of the homes in my area were second homes, so they were let go.

Our inventory is dwindeling and its actually picking up ALOT here. I am hoping it spreads. What I did notice is that people with money, got ALOT of money. It seems there is a seperation in classes…I did 2 - $10,000,000 homes in the last 3 weeks…

Hang in, pray and once again, I hope its gonna spread…

I agree with you that the people with money have tons of it.
Part of the disappearing middle class issue.

We need to give the rich more tax breaks.:slight_smile: Nah ,not going there.

I heard it said, first in Last out. I believe it is Michigan, not Florida. 25% or the population of Detroit has left since the previous census. Michigan is the only state to loose population, and 2 congressional districts. There are small signs of a turn-around even in my rural area, which is definitely encouraging.
There is work to be had, if you have a skill and are willing to work. A large section of our unemployed fall into one of those 2 categories. (In my limited observation anyway)

New home construction has been all but halted in my area for about 4 years. We still have foreclosures on the market, depressing home values, and keeping the market saturated with distressed properties.

We don’t need any more new construction.

Bingo. The first day there are no more houses to sell, construction will start.