Supply Of New Houses At 43-1/2 Year LowApril 25, 2011 3:13 pm
We spotted this statistic today –
“The market for new homes is being squeezed by competition from previously owned homes and a deluge of foreclosed properties, even though inventories of new houses are at a 43-1/2 year low.”
So whats the summary here?
1. Supply of new houses is low.
2. Availability of previously owned homes is high
3. Net effect – Prices are going down.
Statistics Source: Reuters