Business Journal: Home Sales Still Down
The outlook for homebuilders and homeowners looking to sell keeps getting worse.
Monday, July 16, 2007
The number of homes on the markets stands at 22,000 around the Sacramento region. Foreclosures in Sacramento County are up 1,000 percent from a year ago. And mortgage rates have risen. Mix in the fact that new home sales in the 2nd quarter fell 42 percent from the same period in 2006, and it’s clear that the housing market is far from a recovery. The spring is traditionally the start of the homebuying season, and clearly it’s a buyers’ market … but people didn’t take the opportunity to