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Pastimes : Is a Real Estate Downturn Coming?
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To: SpongeBrain who wrote (17)5/25/2001 7:52:06 PM
From: David Jones   of 91
 
Joel Naroff of Naroff Economic Advisers in Holland, Pa. noted that even with the 9.5 percent drop in demand during April, new home purchases during the first four months of this year are still running more than 8 percent above last year's pace.

``The sharp drop in new home sales is a warning sign, though it is hard to complain a lot about a selling pace that, if matched for the remainder of the year, would lead to a new sales record being set,'' Naroff said.

dave
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