The Winans International Real Estate Index of new-home prices in the United States has reported a 16.8% decline over the past year, its steepest decline in nearly 40 years. From its record high of 296,000 in March 2007, the index has fallen to 246,300, its worst nosedive since the 17-month decline of 17.8% from May 1969 to October 1970, Winans said. The company said the worst decline in the past 100 years was the 55% plunge recorded from 1929 to 1932. Winans can be found online at http://www.winansintl.com.
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