Let that sink in a bit. New home prices without even including the massive builder incentives and cash-back have crashed 13% versus last year. On a highly leveraged asset like housing, that's bankruptcy or financial devastation for most new buyers who listened to realtors on commission last year instead of HP.
-13% price decline or $65,000
-7% selling fee or $35,000
-10% incentives/cash back or $50,000
= $150,000 loss in 12 months
Should have rented.
Oh, nice to see our lazy, corrupt and incompetent MSM headline that new home sales were actually up this month. Seriously, someone take them out back and shoot them. The MSM no longer serve a purpose for society.