Wednesday, June 30, 2010

14 Scary Facts About The The US Real Estate Nightmare

Record low new home sales in May

Image: AP

In May, sales of new homes in the United States dropped to the lowest level ever recorded. To be more precise, new home sales dropped 32.7 percent to a seasonally adjusted annual rate of 300,000. A "normal" level is about 800,000 a month. New homes have never sold this slowly ever since the U.S. Commerce Department began tracking this data back in 1963.

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