March 24, 2006

New Home Sales Plunge In The West

Right on the heels of Thursday’s report of an increase in previously owned home sales, the Commerce Department reports that national new home sales fell by 10.5% last month - the largest drop in nine years.

And perhaps more noteworthy for readers of SocketSite, new home sales in the West dropped by 29.4% (while sales actually rose in the Northeast and Midwest).

New Home Sales Down by Most in 9 Years [SFGate]

First Published: March 24, 2006 10:56 AM

Comments from "Plugged In" Readers

Yet according to this week's San Francisco Business Times, another developer is planning on a major condo high rise for Rincon Hill at 375 Fremont. He's not worried about a saturation of the market in the area. Who should be worried? The good folks at the Metropolitan on First Street who are facing the bay -- their views are going to be blocked!

Posted by: Damion at March 24, 2006 11:36 AM

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