Wow is all I can say from the new home sales for April. New home sales jumped 16.2 percent last month. After reading a little further in the news article, all of the sales increased came from one region; the northeast which saw home sales jumped 43.1 percent. I know a lot of housing bulls (a.k.a realtors) will jump on this and say the housing market has bottomed already and start promoting the hell out of this number. Sales were down in every other part of the country and median new home prices dropped over 11 percent. Prices are definitely coming down on new homes.

I still plan on waiting this out before buying a home in California to live in. The prices haven’t dropped that much yet as there are still people trying to sell homes at 2005 prices.

Yahoo New Homes Sales News Article

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