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03/24/2006: "New home sales fell by the biggest amount in almost nine years"

What do you make of this New York Times article today "WASHINGTON (AP) -- New home sales fell by the biggest amount in almost nine years in February while home prices declined for a fourth straight month, raising concerns that the once high-flying housing market could be in for a rougher-than-expected landing.

The Commerce Department reported Friday that sales of new single-family homes dropped by 10.5 percent last month to a seasonally adjusted annual sales pace of 1.08 million homes.

It was the second straight monthly decline, following a 5.3 percent fall in January, and marked the biggest one-month drop since April 1997."?


doesn't look like a booming market yet ....