Economic Report: December new-home sales dip to end worst-ever year

Economic Report: December new-home sales dip to end worst-ever year: Sales of new homes slumped 2.2% in December, disappointing analysts who had expected another big gain in the month after a strong report in November. Sales for the year hit a record low.


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How can an economy be improving when one of his load bearing walls is still crumbling down? New home sales worst ever year... On the opposite, it is being said also in the news sources that foreclosed homes have been rising in price, with Detroit as having one of the greatest increases. Really? But lets see, in Detroit where you can buy a foreclose home for as little as $500 so now it is being bought for $550. Why don't we look at the secondary retail real estate markets and see how prices for previously owned homes are improving there? You will probably see price improvements near to none.

So it seems to me that real estate prices may be near a botton, but not quite yet. Now, the question is how long is it going to be before we see any sustantial recovery on home prices? That there may give you a good indication of how long it is going to be before the economy in general starts to pick up.