« $20 Billion In Pork for Iraq Bill | Main | Anti-War Bill Passes! »
March 23, 2007
New Home Sales Rise
by Jack Lee
Thanks to sellers willing to lower prices new homes sales rose 3.9% in February, so says the National Association of Realtors. Although existing-home sales were unexpectedly up 3.9%, inventories went up even more, at 5.9%, the most in nearly a year. This according to a Market Watch report. More inventory gains than home sale gains means that supply and demand will favor buyers with better prices now and in the near term future. Chico home prices seem to be lagging behind the trend, but are still well off their highs of two years ago. Existing home prices here are down about 8.5% from last last year.
Posted by Post Scripts at March 23, 2007 09:05 AM