MONROE - The Commerce Department says new home sales fell 2.3 percent last month, to a six month low. A real estate agent tells News 12 New Jersey that now is the time to buy.
Rashida Furniturewalla of Spectrum Realty says all homes are difficult to sell in this market. The Commerce Department reports new home sales fell in August, the fourth straight monthly decline, during what many consider a peak buying season.
Economist James Hughes of the Blaustein School at Rutgers says 2010 and 2011 are the worst for new home sales since statistics were first compiled in 1959. He says the sales data is consistent with dismal levels of new home construction.