New Home Sales Record Low – A new record low for home sales seem to be on the horizon for the United States. This information and news coming down the pipeline would seem to be contradictory to what the government and media organizations are project.
New home sales are poised to hit a new record low if this pace continues, but that isn’t what we are fed day in and day out by the media and government. It is very sad to witness the lies about the economy and the real estate market these days, but the numbers don’t lie. This country seems to be heading for darker days.
New Home Sales Record Low
New Home Sales Record Low
New home sales in 2011 is on pace to set a new record low for the third year in a row. You read that correctly. This will be the third straight year new home sales set a new record low, which is not a good sign for the rest of the economy looking for a positive point anywhere to cling on to.
Everyone knows new home sales and home building stocks are very important economic indicators of how things are going in the economy as a whole. New home sales and construction contribute to a wide variety of jobs in the market place and residual business as a result. The new home market is very critical to our future and many are wondering when will it all come back?
There are a variety of reasons for steady decline in new home sales in the market place. You have to consider the employment position of many Americans. They are unemployed, under employed, or worried about being fired so the last thing on their minds is buying a new home.
In addition to the employment crisis, it is obvious the abundance of foreclosed property on the market isn’t helping the new home sale market. There are so many foreclosure deals out there, many people don’t believe it makes sense to purchase a new property and are not doing it. Therefore, the new home sales record may continue drop in the coming years.
New Home Sales Record Low
New home sales have not increased in the United States since 2005. After that year from 2006 and what is now being projected to 2011, the new home sales in the United States have steadily dropped year after year. No one is sure when the end will come, but everyone sure is hoping the bleeding stops soon.
What is amazing about all of this to me is the government and the media continue to tell the American people this recession is over. I believe this is very silly and they should just be honest about the prospects of the near term future.
With the unemployment rate holding steady, jobs flowing out of this country by the day, real estate values decreasing, and the price of consumer goods elevating, I am not sure how or when this slump ends. I just know most of us are ready for it. - New Home Sales Record Low
People aren’t buying – makes me think prices will continue to fall. I want to buy an investment property, but I’m just waiting.
Robert @ My Multiple Incomes recently posted..Does Multiple Income Streams Equal Entrepreneur?
It seems like the best time to buy. More and more people are staying away from home ownership and renting for longer. This is a great time to be a landlord, although like Robert, I would like to see prices drop even further before I invest in this market.
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What I have learn is that you need to do the opposite of what EVERYONE else is doing. Right now a lot of people are staying away which is a key factor in my decision to look to purchase a couple of properties. When you see everyone trying to be an investor then thats my key to sell.
LOL, great point, Tiffany. Clearly, once the masses of people get behind something the opportunity has faded.
Thanks for sharing!