> Business, Economy, home buyers, News Item, Trends > New Home Sales Slowly Returning
nationalmortgagenews says according to John Burns Real Estate, before the housing downturn new home sales accounted for 16 percent of sales transactions, falling to five percent as the bottom dropped out. The new-to-existing home sales ratio fell from five to one to 17 to one, but has since climbed back to a 12 to one ratio, now accounting for eight percent of transactions. MHproNews has learned while the Burns analysis expects builders to regain their position of having 15 percent of total home sales, if banks unload their REO (real estate owned) in large numbers, it could reverse the ratio against the builders once again.
(Photo credit: Fotosearch)
Categories: Business, Economy, home buyers, News Item, Trends according to john, banks, downturn, existing home sales, john burns, large numbers, MHProNews, new home sales, Real Estate, sales transactionsSource: http://www.mhmarketingsalesmanagement.com/blogs/daily-business-news/new-home-sales-slowly-returning/
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