New Home Sales fall 53% in Arizona
Submitted by admin on June 23, 2010 – 2:18 pmNo Comment
The US Commerce Department reported that new home Sales fell by a massive 32.7% in May, to a seasonally adjusted rate of 300,000. Sales were expected to be off sharply as a government program to support the market expired, but the results were far worse than even the most pessimistic projections.
Year-over-year, sales fell by 18.3%, and new –home sales in April were revised lower.
No part of the country was spared; new-home sales fell by 23.9% in the Midwest, sank 53.2% in the West, dropped 25.4% in the South, and fell 33.3% in the Northeast.
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