SALES OF “NEW” SINGLE FAMILY HOMES PLUNGE IN FEBRUARY

When will we “begin” to see a recovery in the “residential” design / development / construction sector?

March 23, 2011, 11:30 a.m. EDT

“Sales of new U.S. homes tumble 16.9% to record low”

By Steve Goldstein, MarketWatch

WASHINGTON (MarketWatch) — Sales of new single-family homes collapsed in February, the Commerce Department reported Wednesday, as a combination of high unemployment, tumbling prices and a glut of cheaper alternatives brought activity to a near-standstill.

Link to full article:

http://www.marketwatch.com/story/sales-of-new-us-homes-tumble-169-to-record-low-2011-03-23

March 23, 2011, 11:46 a.m. EDT

“Dismal home-sales data tell us nothing new”

Commentary: Housing likely to take years to recover

By MarketWatch

WASHINGTON (MarketWatch) — Financial markets overreacted to the news Wednesday that U.S. sales of new homes fell about 17% in February to a seasonally adjusted annual rate of 250,000, a record low and quite a bit worse than the 290,000 rate expected by the MarketWatch survey of top forecasters

Link to full article:

http://www.marketwatch.com/story/dismal-home-sales-data-tell-us-nothing-new-2011-03-23