I thought it would be interesting for the forum participants to have in mind the latest developments in the housing market. According to news released last week by the U.S. Commerce Department sales of new single-family homes fell 3.9 percent in February to a seasonally adjusted annual rate of 848,000, the lowest level since August of 2000.

The trend seems to have been widespread as three out of four regions posted declines in new-home sales in February. Sales were down 26.8 percent in the Northeast, 20 percent in the Midwest and 7 percent in the South. According to experts the 24.6 percent gain in the West, is artificial mainly due to an unusually low activity in January.

Hope you find it useful.

Petros
http://www.property-investing.org