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