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As the overhang of new homes sits at a 27-year high of 9.8 months,
new home sales are expected to fall for a fifth
consecutive month in the March index from the U.S. Census Bureau on
Thursday.

In February’s report, sales fell 1.8% to a seasonally adjusted annual
rate of 590K, contributing to an almost 30% decline since February 2007,
when the pace was…

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Comercial Real Estate

U.S. New Homes Sales Plummet 8.5% in March to Lowest Level Since 1991

New home sales in the U.S. were down for the fifth
consecutive month in March, falling by 8.5% to 526k, much lower than the
580k level expected by economists, and setting a new low since
October 1991. Inventories soared from already-worrying
levels.

Regionally, new home sales fell across the board…

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Home Prices Rose 0.6% in February, OFHEO Reports

U.S. house prices rose 0.6% in February following
January’s 1.1% decline, the Office of Federal Housing Enterprise
Oversight (OFHEO) reported Tuesday. Economists had expected a monthly
decline of 1.5%.

In the previous month, U.S. home prices fell 1.1% between December
2007 and January 2008, contributing to a 12-month decline of 3.0%.

For the 12 months ending in February…

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