March 23, 2011

New Home Sales Double-Dip Slump Is Official, And to Lowest Post-WWII Level

Filed under: Economy,Taxes & Government — Tom @ 10:32 am

February’s new-home sales number is the worst ever on records going back to 1963, is certainly the worst since the aftermath of World War II, and is 30% below February 2010:

NewHomeSales0211

One word you almost most definitely won’t see in today’s coverage of this news: “Obama.” That won’t change the fact that his administration’s policies have not only kept the housing industry in the doldrums, but have plunged it to depths heretofore unimaginable.

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UPDATE:Unexpectedly” —

Sales fell 16.9 percent from January, delivering a shock to analysts who had expected a gain for last month.

Plus: An “unexpectedly” encore.

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