Wednesday, August 25, 2010

New home sales fall 12% in July, down 32% from last year

"Look on the bright side. It’s not as bad as yesterday’s numbers in the existing-home market [home sales down 27% in July], although it certainly comes close. But otherwise, there is no other way to paint today’s report from the Commerce Department on the 12% drop in new-home sales in July as anything other than disastrous...." [HotAir]

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