New home sales up in March
New home sales post small gain in March [but] 2007 pace is still significantly below last year
New home sales for March rose 2.6% since February but are still 23.5 percent lower than a year ago. With the increase in exsisting home inventories and foreclosures flooding the market lenders are becoming more conservative. The result is that it’s getting increasingly difficult to purchase a home despite low interest rates.
This is good news for real estate investors as is the news that things in the broader economy appear to be correcting.
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