"New home sales dropped to an annualized rate of 283,000 in October, leaving 202,000 new homes (8.6 months worth) on the market, according to a report released Wednesday by the Census Bureau and the Department of Housing and Urban Development.
New home sales are down 8.1% from September and 28.5% from October 2009.
The National Association of Realtors reported Tuesday that existing home sales trended down in October also, dipping 2.2% compared to September.
Collectively in 2010, the annualized rate of new home sales is 273,000. This is down 14% from 2009..."
at http://www.housingwire.com/2010/11/24/nation-has-8-6-month-glut-of-new-homes-on-market-census-bureau-says?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+housingwire%2FuOVI+%28HousingWire%29
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