http://www.nytimes.com/2011/04/23/business/economy/23housing.html?_r=1&ref=business
Kim Meier’s spring promotion, which includes a $17,000 credit at a nearbyGeneral Motors dealer, has produced seven sales since the beginning of March, a veritable windfall of business for a builder who sold only 20 houses last year. “We needed to do something dramatic,” said Mr. Meier. “The market’s been soft.”
Sales of new single-family homes in February were down more than 80 percent from the 2005 peak, far exceeding the 28 percent drop in existing home sales. New single-family sales are now lower than at any point since the data was first collected in 1963, when the nation had 120 million fewer residents.
There are about 65 sales a week for a region of 10 million people.
Kim Meier’s spring promotion, which includes a $17,000 credit at a nearbyGeneral Motors dealer, has produced seven sales since the beginning of March, a veritable windfall of business for a builder who sold only 20 houses last year. “We needed to do something dramatic,” said Mr. Meier. “The market’s been soft.”
Sales of new single-family homes in February were down more than 80 percent from the 2005 peak, far exceeding the 28 percent drop in existing home sales. New single-family sales are now lower than at any point since the data was first collected in 1963, when the nation had 120 million fewer residents.
There are about 65 sales a week for a region of 10 million people.
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