SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Politics for Pros- moderated
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: LindyBill10/27/2006 6:22:52 PM
  Read Replies (1) of 793782
 
New home prices plunge
Rossputin blog
In Financial Markets & Real Estate

Following on the dismal report earlier this week on existing home sales, the Commerce Department reported Thursday that the median price for a new home in September was $217,100, a drop of almost 10% from a year earlier and the biggest drop in 35 years.

While the quantity of homes sold increased from the prior month, sales are still 14% below a year ago as buyers wait for lower prices.

Unlike the attempt at optimism by the National Association of Realtors two days ago, I agree with Mark Zandi, chief economist at Moody's, who said "The housing market correction is in full swing but it probably has another year to go before it bottoms out. It is going to be painful because there are a lot of price declines to come."
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News