chart from http://www.calculatedriskblog.com/
Spurred by the tax credit, low mortgage rates and lender pressure on builders, nationwide new home sales showed some seasonal strength improving over June. Still, it's the 3rd slowest July sales since 1963. With the tax credit expiring at the end of November, new home sales (& used home sales) should show relative strength thru mid October. Builders would be well served to use the opportunity to further liquidate inventories. With nearly 1 in 10 workers unemployed and 1st time buyer pent up demand being used up, the future is not so clear.
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