Friday, March 03, 2006

Almost-New Homes Hurt Sales of Brand-New Ones

Home builders figured they'd face cooling demand this year. But they're also facing another challenge: competing against some of their most recent customers. Speculators, whose robust purchases made 2005 one of the best years for new-home sales, have reined in their buying and started selling amid signs of a housing slowdown. The influx of their almost-new homes is making it harder for builders to sell brand-new ones. (Read the full article) Source: LA Times

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