Thursday, August 26, 2010

New Homes on the Cheap

Unlike the result of existing home sales where the higher end market is holding up well (in terms of sales) relative to the absolute cliff-dive in the low-end market, the new home sales figures show the low-end market is where it is at (though likely because high-end homes are now priced a notch or two down in the price ladder).

Whereas 10% of all new homes sold went for $500k+ as recently as 2008, in 2010 that figure is now less than 4%.



It is important to note that the July 2010 figures are from a base 30% lower than in 2009.

Source: Census