New Home Sales Down Substantially


	New Home Sales Down Substantially

hayliirjsmom

7-27-2007 2:55 AM

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tags:

home, real estate, wall street, home sales

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/d724733e-8fc9-4efb-8820-2d88115ff38a/D2D9EF15-FD0B-457A-A443-E3060172E7FA/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://biz.yahoo.com/ap/070726/economy.html?.v=17" href="http://biz.yahoo.com/ap/070726/economy.html?.v=17" style="font-size: 11px;">biz.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/ap/070726/economy.html?.v=17"><SPAN class="t">New Home Sales Down Substantially</SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/ap/070726/economy.html?.v=17"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/biz.yahoo.com/img/1D058D45-F3B4-44DD-A04C-EB6E30B50CF4" alt="A newly constructed  home waits for an owner in Bainbridge Twp., Ohio on Thursday, July 26, 2007.  Sales of new homes fell in June by the largest amount in five months as the housing industry continued to struggle with its worst downturn in 16 years. The median home price also fell. (AP Photo/Amy Sancetta)" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/ap/070726/economy.html?.v=17"><SPAN class="t2">Sales of New Homes Plunge by the Largest Amount in 5 Months, Adding to Wall Street Worries</SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/ap/070726/economy.html?.v=17">Sales of new homes tumbled in June by the largest amount in five months, provoking new worries on Wall Street about how much the prolonged housing slump will hurt the overall economy.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/ap/070726/economy.html?.v=17">The Commerce Department reported Thursday that sales of new single-family homes dropped by 6.6 percent last month to a seasonally adjusted annual rate of 834,000 units. The decline was more than triple what had been expected and was the largest percentage drop since sales fell by 12.7 percent in January.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/ap/070726/economy.html?.v=17">The fall in new home sales was the latest piece of evidence this week of housing's troubles. Sales in the much larger existing home market also fell in June, dropping by 3.8 percent to an annual rate of 5.75 million units, the slowest pace in nearly five years. Also this week, Countrywide Financial, one of the largest mortgage lenders, reported a sharp drop in second-quarter profits.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D2D9EF15-FD0B-457A-A443-E3060172E7FA/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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