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Description: Sales of new homes fall to record low with Northeast leading declines at 35%
URL: http://www.boston.com/business/articles/2010/02/25/sales_of_new_homes_fall_to_re ...truncated...
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=2845

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[admin]

There's a good commentary on the new home sales report here:

http://paper-money.blogspot.com/2010/02/bottomless-new-home-sales.html

- admin

[Renting in Mass]

At first I couldn't figure out why the MAR's January sales numbers didn't jive with what I've been seeing in my area. Their numbers showed a solid sales pace, but I hadn't seen anything sell in January. Reading about the new home sales numbers helped me figure it out. Existing home sales numbers are based on the closing of contracts signed in November in December, while new home numbers are based on contract signings in January. So the new home number is a much better indicator of what was happening in January (sales were dead). I expect we'll see slow existing home sales numbers in the February and March numbers.

Admin, do you know where to find new home sales data for Mass?

[admin]