photo credit: radville

Weve all felt the financial crunch lately. And the numbers from the U.S. Department of Housing and Urban Development and the Census Bureau announced that the new home sales are still at record lows. With the amount of people being turned away from receiving a home loan this is not surprising news for most of us.

The seasonally adjusted annual rate of new home sales was down an estimated 28.9 percent from August of last year and is a historic low going back over 40 years. Thats not a good feeling for most Americans.

Regionally, the numbers are worse. In the Midwest it plunged 38.2 percent, the West saw a 33.6 percent decline, the South saw 28.2 percent decline, and the East saw a 5.4 percent year over year in August. The existing home sales have also been at near record lows. Its time for some good news to hit the real estate industry.

Read the full article from Inman News

Posted in Denver Colorado Real Estate, Real Estate Market Conditions, Real Estate Industry, Real Estate Industry Trends

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