[listingright]

The Commerce Department reported that sales of new single-family homes dropped by 10.5 percent last month to a seasonally adjusted annual sales pace of 1.08 million homes.

Reality Check! Lets look at historical sales rates for new single family homes. (Source: www.census.gov/const/www/newressalesindex.html)

Year # Sales
1986 750
1987 671
1988 676
1989 650
1990 534
1991 509
1992 610
1993 666
1994 670
1995 667
1996 757
1997 804
1996 757
1997 804
1998 886
1999 880
2000 877
2001 908
2002 973
2003 1,086
2004 1,203
2005 1,283

So, the rate fell to the 2003 level. How does it compare to every year from 1986 to 2003?

[Porterville]

Oh my God!! Don't post facts on this web!!! What are you doing!!! Next you will show how a Fixed 30 year loan at 6.5% compares to a loan at 10% !!!!

You are so mean to the screaming meemees.

[agrarianlady]

So, the rate fell to the 2003 level.

And if prices fall back to their 2003 level, that would be appropriate, too. That would mean about a $200K discount in my locality of Northern VA.