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10-27-2011, 02:17 AM #1
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Median US New Home Price Has Biggest 3 Month Drop Ever
Median US New Home Price Has Biggest 3 Month Drop Ever
Submitted by Tyler Durden on 10/26/2011 10:19 -0400
Comments: 85 / Reads: 7,890
There is only one notable data point in today's release of new home sales, which, and this should not come as a surprise to anyone, continue to crawl along the floor with just 313,000 houses sold. The datapoint is the median home price, which tumbled from $210,900 to $204,400. This is certainly the lowest number in 2011, and is just modestly off the decade low record in October 2010. And it gets worse: the 3 month drop in median home prices is the biggest ever. Regardless: we are confident this will force the Comcast-based, housing "bottom-callers" to call yet another bottom shortly.
Median monthly new home prices:
3 Month change:
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