The national numbers for June 2007 came out and they shouldn't surprise anyone. Existing home sales are down 3.8% from May 2007 and down 11.4% from June 2006. New home sales are down 1.6% from May 2007 and 15.8% from June 2006. The Chief Economist of the National Assoc. of Home Builders says, "The ball is still rolling down the hill". He believes that home construction will not rebound until 2010 or 2011. Ouch!
As sales figures for the Portland area come out, I will be posting them.
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