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  • January 29, 2009 at 4:40 PM #14939
    4plexowner
    Participant

    http://www.census.gov/const/newressales.pdf

    NEW RESIDENTIAL SALES IN DECEMBER 2008

    Sales of new one-family houses in December 2008 were at a seasonally adjusted annual rate of 331,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

    This is 14.7 percent (±13.9%)* below the revised November of 388,000 and is 44.8 percent (±10.8%) below the December 2007 estimate of 600,000.

    The median sales price of new houses sold in December 2008 was $206,500; the average sales price was $246,900. The seasonally adjusted estimate of new houses for sale at the end of December was 357,000. This represents a supply of 12.9 months at the current sales rate.

    An estimated 482,000 new homes were sold in 2008. This is 37.8 percent (±2.7%) below the 2007 figure of 776,000.

    ~

    Two comments:
    1) Ouch!
    2) 2009 is likely to be far worse

    hat tip to Barry Ritholtz (http://www.ritholtz.com/blog/) for the article

    January 29, 2009 at 4:42 PM #338362
    waiting hawk
    Participant

    2009 will make 2008 look like 2007.

    January 29, 2009 at 4:42 PM #338785
    waiting hawk
    Participant

    2009 will make 2008 look like 2007.

    January 29, 2009 at 4:42 PM #338812
    waiting hawk
    Participant

    2009 will make 2008 look like 2007.

    January 29, 2009 at 4:42 PM #338691
    waiting hawk
    Participant

    2009 will make 2008 look like 2007.

    January 29, 2009 at 4:42 PM #338904
    waiting hawk
    Participant

    2009 will make 2008 look like 2007.

    January 29, 2009 at 4:51 PM #338919
    carlsbadworker
    Participant

    New home sale is supposed to be bad because builders are not building anymore. Existing home sale data was released earlier this week and it was actually pretty strong.

    January 29, 2009 at 4:51 PM #338828
    carlsbadworker
    Participant

    New home sale is supposed to be bad because builders are not building anymore. Existing home sale data was released earlier this week and it was actually pretty strong.

    January 29, 2009 at 4:51 PM #338706
    carlsbadworker
    Participant

    New home sale is supposed to be bad because builders are not building anymore. Existing home sale data was released earlier this week and it was actually pretty strong.

    January 29, 2009 at 4:51 PM #338377
    carlsbadworker
    Participant

    New home sale is supposed to be bad because builders are not building anymore. Existing home sale data was released earlier this week and it was actually pretty strong.

    January 29, 2009 at 4:51 PM #338800
    carlsbadworker
    Participant

    New home sale is supposed to be bad because builders are not building anymore. Existing home sale data was released earlier this week and it was actually pretty strong.

    January 29, 2009 at 4:52 PM #338925
    sdduuuude
    Participant

    [quote=waiting hawk]2009 will make 2008 look like 2007.[/quote]

    Filing for future plagarism.

    January 29, 2009 at 4:52 PM #338832
    sdduuuude
    Participant

    [quote=waiting hawk]2009 will make 2008 look like 2007.[/quote]

    Filing for future plagarism.

    January 29, 2009 at 4:52 PM #338711
    sdduuuude
    Participant

    [quote=waiting hawk]2009 will make 2008 look like 2007.[/quote]

    Filing for future plagarism.

    January 29, 2009 at 4:52 PM #338382
    sdduuuude
    Participant

    [quote=waiting hawk]2009 will make 2008 look like 2007.[/quote]

    Filing for future plagarism.

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