Declining home sales driving negative cycle into 2008

New-Home Sales Fell to 12-Year Low in November

"…worst housing slump since the early 1990s. But buyers remain scarce, and analysts say the market may not bottom out until well into next year or even later.

Sales of new homes plunged to a 12-year low in November, an annual pace of just 647,000, the government said Friday. That is the slowest pace since April 1995, when sales ran at a pace of 621,000."

Month after The Real Estate Cafe signed it’s original lease on March 1, 1995.

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