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new home sales down 9%

dante

Unabomber
Feb 13, 2004
8,815
8
looking for classic NE singletrack
from a year ago, but the median price was only down .4%?

Huh? You'd think that if home-builders would be crying the blues they'd be slashing prices and just trying to get the damn things sold. I know that when I was recently house-shopping, the biggest builder out here was offering things like they'd pay the first 6months payments (interest and principal), free upgrades, etc, so maybe that's why the "median price" hasn't gone down? (Veridian, the sole builder out here also has a financial lending subsidiary)

Is it also that after figuring in materials, labor and overhead that the builders *can't* reduce their prices?
 

LordOpie

MOTHER HEN
Oct 17, 2002
21,033
0
Denver
Most builders here won't start on your home until you've sold your current home or have been officially approved for full financing if you're keeping your home.
 

LordOpie

MOTHER HEN
Oct 17, 2002
21,033
0
Denver
Right, I'm talking about developments... they might be building 100 homes, but they don't build them on spec.