Yes, let’s.
New home prices took their biggest hit in more than 35 years in September, according to a government report Thursday that was a further sign of builders struggling to move homes under a glut of unsold homes.
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[T]he median price of a new home tumbled 9.7 percent from a year earlier to $217,100. It was the sharpest drop since December 1970, when prices posted an 11.2 percent decline, and was the fourth largest year-over-year decline on record.
The September price slump also marked a 9.3 percent decline from August and a 15.5 percent drop from the record high price of $257,700 posted in April of this year.
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And new home sales are also an important driver of construction employment, which has become an increasingly key part of the nation’s jobs base.
Karl E. Rove: Super Genius.