Sales Of New Homes Reach Record Lows

Sales Of New Homes Reach Record Lows

The amount of people buying new homes, rather then existing homes, has plummeted, reaching a record low.  The rate of new home sales, according to the Census Bureau, is down 28% from the numbers just a year ago.This, of course, only indicates that the housing market is yet to turn things around.  Aside from a recession, though bad weather and cheaper options in foreclosed houses have swayed purchasers from considering a new house.

What most people don’t understand is that purchasing a new home actually helps the economy considerably.  The amount of workers, materials, and construction costs involved, is a rather large contribution to a slumping economy.  But even though building new homes provides jobs and economic stimulation, that certainly doesn’t seem to be an incentive for the buyer.  After all, in these dire times, people are most concerned with saving money for themselves.


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Housing Assist Coldwellbanker