New home sales plunge 33% with tax credits gone
Press release from the issuing company
Thursday, June 24th, 2010
Sales of new homes collapsed in May, sinking 33 percent to the lowest level on record as potential buyers stopped shopping for homes once they could no longer receive government tax credits.
The bleak report from the Commerce Department is the first sign of how the expiration of federal tax credits could affect the nation's housing market. (read more at ajc.com)
