New-Home Sales Increased 0.7% to 429,000 Rate in August
New-Home Sales Increased 0.7% to 429,000 Rate in August
September 25, 2009, Bloomberg News
Sales of new U.S. homes climbed in August to the highest level in almost a year as builders cut prices at a record pace to compete with the foreclosures that are flooding the market for previously owned houses. Sales increased 0.7 percent to a 429,000 annual pace, less than anticipated, figures from the Commerce Department showed today in Washington. The median price of a new house fell 9.5 percent from the prior month, the biggest decrease since records began in 1963.
Study: Housing More Affordable for ''move-Up'' Buyer
September 25, 2009, New York Times via The Associated Press
Welcome to Grayling, Mich., where residents paddle canoes through town on the winding AuSable River, ride snowmobiles on forest trails and take scenic walks among 150-year old trees at Hartwick Pines State Park. The former logging town ensconced in the woods of central Michigan owns another distinguishing trait, according to a Coldwell Banker study: Grayling's 6,500 residents live in the nation's most affordable housing market.