New-home Sales Decline
The Commerce Department reported that sales of new homes in the U.S. declined 8.3 percent in August compared to July, the Boston Herald reported September 27, 2007.
The decline in new-home sales reached a seven-year low.
"The median sales price in August fell by 7.5 percent from a year earlier to $225,700. That was the biggest drop in percentage terms in nearly 37 years. The median price is the middle point at which half sell for more and half for less. The average sales price dropped by 8 percent in August from a year earlier to $292,000. That was the biggest decline in 17 years."
We're also seeing a lot of new construction home prices dropping and many east county builders offering tens of thousands of incentives to move their inventory. How's it in MA in your area?
Posted by:Boulder Real Estate | October 04, 2007 at 05:12 PM
We're also seeing a lot of new construction home prices dropping and many east county builders offering tens of thousands of incentives to move their inventory. How's it in MA in your area?
Posted by:Boulder Real Estate | October 04, 2007 at 05:12 PM