Thursday, June 5, 2008

April New Homes Sales Down 42%

Sales of new homes in April fell 42% from the same month last year, to a seasonally adjusted annualized rate of 526,000 units. Through the end of April, about 196,000 new homes have been sold, 38.6% below sales for the same period of 2007.
At the current sales pace, there is an unsold inventory of homes that would last 10.6 months.

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