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Wednesday, August 26, 2009

New Home Sales in Perspective

Stabilization? Yes.

But, I'm surprised by the surprise. By that I mean did the market think new home sales would keep declining at that torrid pace? If so, that would have meant negative sales at some point in the near future... not exactly possible.

We're still at levels last seen in 1979. A time at which the U.S. population was roughly 80 million people smaller.

So... good news? Yes, but I wouldn't argue that this means the worst in overall housing is definitely behind us.

Source: Census