New Home Sales Plunge to 16 1/2 Year Lows
Thursday, April 24th, 2008The commerce department reported that the sale of new homes dropped 8.5 percent in March, the lowest sales pace since October of 1991. The median new home price dropped by 13.3 percent compaired to the year ago prices. This data continues to show the slump the housing market is going through since the bursting of the housing bubble. The perfect economic storm continues as the housing market, upcomming recession, and tough credit crunch are continuing to destroy the current US economy.
