June New Residential Single Family Home Sales declined by -8.4%, or 350,000 annualized sales. This monthly percentage change has a ±12.4% error margin. May's single family new home sales were significantly revised down, from +7.6% to +6.7%, or 382,000 annualized sales. April was revised up to 358,000 from 343,000 as was March, to 352,000.
The online real estate site Zillow, released a new research study where they conclude home prices will continue to fall until Q2 2011...at the earliest. Why? One word: foreclosures.
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