Right on the heels of Thursday’s report of an increase in previously owned home sales, the Commerce Department reports that national new home sales fell by 10.5% last month – the largest drop in nine years.
And perhaps more noteworthy for readers of SocketSite, new home sales in the West dropped by 29.4% (while sales actually rose in the Northeast and Midwest).
New Home Sales Down by Most in 9 Years [SFGate]

Comments from Plugged-In Readers

  1. Posted by Damion

    Yet according to this week’s San Francisco Business Times, another developer is planning on a major condo high rise for Rincon Hill at 375 Fremont. He’s not worried about a saturation of the market in the area. Who should be worried? The good folks at the Metropolitan on First Street who are facing the bay — their views are going to be blocked!

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