| Given the bloated supply of existing homes for sale, including a glut of foreclosures, there aren’t many people willing to shell out a premium price for a newly built house.
New-home sales dropped to a seasonally adjusted annualized rate of 295,000 in August, down from 323,000 for all of last year, and a far cry from 2005, when 1.28 million new homes were sold, according to the Census Bureau and the Department of Housing and Urban Development. Read more: Sales of new U.S. homes dip in August..............................................Full Article: Source
|