According to a recent article written by Derek Kravitz with the Associated Press, “New home sales slowest in at least a half-century”.  The median price for a new home is now $202,000; and new home sales have accounted for only 5% of sales this year.  With foreclosures rampant, new home sales can’t keep pace with previously occupied homes, which are selling at bargain basement prices.  It’s a great time to be a buyer, with supply up and prices low.

To read this article in its entirety, go to www.associatedpress.com, archive search for March 24, 2011.