NY Daily News wrote, last week, that the Department of Commerce report released on Thursday revealed a 12.6% drop in new home sales for January, down to a 284,000-unit annual rate from the 325,000-unit rate registered in December.
In a strong economy, the rate would be closer to 600,000.
In addition, the New Home Sales were also considerably worse compared to last year, 18.6% lower than January 2010.
The US real estate industry has experienced consistent losses every year since 2006, when the housing bubble burst after a period of record activity. Last year was no exception, with only 322,000 new homes sold in 2010, the fewest on record in 47 years.
In this tough environment, if you need to sell your house, it would be hard and would probably take a long time to do so. Especially this is true, if your house needs a major rehabbing.
But please don't get discouraged. Let us help you. As local investors in Brooklyn NY, We Buy Houses in Any Condition & Situation for $Cash and Close FAST!!!
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