New Home Sales Continue Its Skid

An article in today’s NY Times highlights the continued decline in new home sales and prices. According to the article, sales of newly constructed homes dropped 2.8 percent from December, to an annual rate of 588,000. It was the third consecutive monthly decline. The median price of a new home sold in January fell to $216,000, down 15 percent from a year ago, according to the Commerce Department.

Source: NY Times is experiencing an increased volume of new home builders and developers that are contacting us, looking for innovative ways to market the properties in their inventory. Only time will tell whether this increse in call volume will be short lived and how long the housing market will continue it’s downward spiral.

As we have posted about in the past, 2 schools of thought have emerged as a result of the troubled housing industry. Those who understand the necessity of investing in innovative property marketing tools such as 3D Renderings, 3D Floor Plans and 3D Walkthroughs. Versus those who refuse to spend any marketing dollars until the market softens. Of course we hope the first school of thought makes up the majority.

The complete article from the NY Times can be found here>>

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