New Home Sales In Biggest Drop Since February
Some big bust-related news out this morning. Existing home sales are have a rough run. Here's an excerpt from the AP:
Piling on more proof that the housing boom is over, the Commerce Department reported Thursday that new home sales fell by 4.3 percent last month to a seasonally adjusted annual sales pace of 1.072 million units. The decline was the largest since an 11.5 percent plunge in February.
As far as consumer sentiment goes, though, look no further than a poll this morning on Yahoo Finance. Looks like roughly 75% of respondents think that housing is headed down further. Stay tuned...
