New Home Sales Drop Again

The Courier-Journal published an article Tuesday that talked about the decline in sales for new construction. On the whole the news is as expected. Some builders are feeling the pain, but the flip side (as always) is that buyers are getting great deals.

From the article:

The weakness in sales was accompanied by a drop in prices, with the median price of a new home falling to $250,000 in February, down 0.3 percent from a year ago.

When you combine that piece of information with:

“Anything under $250,000 has picked up steadily,” said Chuck Kavanaugh, executive vice president of the Home Builders Association of Louisville.

That tells this Realtor more builders need to follow the example set by companies like Ball Homes and Dominion who are catering to the under $250k buyers.