RE and economic charts: New home sales: Down 80% from the boom + Down 8.1% in October = 8.6-month glut of new homes on market

Wednesday, November 24, 2010

New home sales: Down 80% from the boom + Down 8.1% in October = 8.6-month glut of new homes on market

[mEDITate-OR:
think that with jobless claims down...
everything is, now, fine with the world.

While everybody did think New home sales would drop...
as the 1st chart shows U.S. so did the sales prices.

What we did NOT expect was that "new home inventory" would climb.
Why did they not slow down construction?
---------
The last chart, from the LATimes shows U.S. "location".
Obviously, The West is still in deep do-do, or is that don't-don't.
One month is down 4 TIMES the national average.
And, one year is down twice.
-----------