The Census Bureau reports how many new homes were sold in October and the average price. Economists believe new homes were sold at an annual rate of 753,000 units last month, a 21 percent decline from October 2006. On Wednesday, the National Association of Realtors reported sales of existing homes slipped more than 20 percent last month versus October last year.
Jonah’s Thoughts:
The bad news: we are not going to sell over 7 million homes this year.
The good news: we going to sell just under 5 million homes.
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