The median price of a dwelling sold last month dropped to $244,100
WASHINGTON - Sales of new homes fell in February for the fourth straight month, pushing activity down to a 13-year low as the steep slump in housing continued.

The Commerce Department reported Wednesday that new home sales dropped 1.8 percent last month to a seasonally adjusted annual rate of 590,000 units, the slowest sales pace since February 1995. The decline was slightly worse than expected.

The median price of a home sold last month dropped to $244,100, down 2.7 percent from the level of a year ago.

The prolonged slump in housing has dragged down overall economic activity. Many analysts believe the slump could combine with a multitude of other problems including a severe credit crunch, soaring energy prices and plunging consumer confidence, to push the country into a full-blown recession.

http://www.msnbc.msn.com/id/23809665/

What amazes me despite all the news, is the NEVERENDING construction in San Diego. There are massive developments all over the city in full build operation. I'd think they put the brakes on for now.

If they don't build, they don't exist. Builders build. They can't exactly leave a half built condo high rise sitting there 50% done!

What amazes me despite all the news, is the NEVERENDING construction in San Diego. There are massive developments all over the city in full build operation. I'd think they put the brakes on for now.

I think if you are talking about downtown you are correct. I know around the county most projects have been called off. I know a lot of the Rat Non Union Plumbing companies are trying to jump into the commercial market now because their track rat employees have nothing to do. Even commercial has come to a dead stop for many big contractors. We're fortunate we do a lot of wet side mechanical work in HVAC, and do out of town work. But for the most part, projects are taking a crap county wide.