Builders' growing cancelled order woes could hit real estate - Feb. 24, 2006
Builders' growing cancelled order woes could hit real estate - Feb. 24, 2006
Cancelled home orders: Latest bubble prick?
Experts say jump in cancelled orders for new homes is latest sign of how investors inflated the real estate market recently, and how the market is due for a downturn.
By Chris Isidore, CNNMoney.com senior writer
February 24, 2006: 2:49 PM EST
NEW YORK (CNNMoney.com) - Home builders are growing concerned about an increasing number of cancelled new home orders, which experts say could be a sign of an underlying weakness in the recent run in home prices.
Specifically, the cancelled orders could be the latest warning sign that buyers who were turning to real estate as an investment, rather than for their own housing needs, are shifting out of real estate. And that could mean that in many hot markets, the air is about to come out of over-inflated real home prices overall.
Cancelled home orders: Latest bubble prick?
Experts say jump in cancelled orders for new homes is latest sign of how investors inflated the real estate market recently, and how the market is due for a downturn.
By Chris Isidore, CNNMoney.com senior writer
February 24, 2006: 2:49 PM EST
NEW YORK (CNNMoney.com) - Home builders are growing concerned about an increasing number of cancelled new home orders, which experts say could be a sign of an underlying weakness in the recent run in home prices.
Specifically, the cancelled orders could be the latest warning sign that buyers who were turning to real estate as an investment, rather than for their own housing needs, are shifting out of real estate. And that could mean that in many hot markets, the air is about to come out of over-inflated real home prices overall.
posted by Patrick Leblanc at 7:52 PM
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