Sales of New Homes
January 27, 2011
In the past several days there have been articles in the newspapers city the decline in the sale of newly constructed homes. While this is a datum that is useful to track, it is no surprise to me that the numbers for the sale of new homes is still declining.
Consider this. In most areas of the Inland Empire, there has been little or no new residential construction in the past two years. In the Midwest and the east coast there has been severe winter weather that would certainly have prevented mush construction. If there are fewer homes being built, there will be fewer homes being sold.
What will be a sign will be data in our area that builders are taking out permits and are rehiring construction workers. This should translate into a decline in the jobless percentages which will hopefully signal that we really are climbing out of this recession.
In the past several days there have been articles in the newspapers city the decline in the sale of newly constructed homes. While this is a datum that is useful to track, it is no surprise to me that the numbers for the sale of new homes is still declining.
Consider this. In most areas of the Inland Empire, there has been little or no new residential construction in the past two years. In the Midwest and the east coast there has been severe winter weather that would certainly have prevented mush construction. If there are fewer homes being built, there will be fewer homes being sold.
What will be a sign will be data in our area that builders are taking out permits and are rehiring construction workers. This should translate into a decline in the jobless percentages which will hopefully signal that we really are climbing out of this recession.
posted by shirley harry at 8:45 AM
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