![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9Ts8RwoKwPnsYAqYxDnmX-zJte54SVGCeEuJ25CClNfU3pqkRPobPjnVSdqG9aN9FsssdRLJ8C3KsW7dn_lj_djNSS6YQQIpgkrGPz4Q80opPWOh9hwMvKZxYxI-lXIqb_O8h/s280/newhome.jpg)
These results, while being pretty shocking especially considering the delusions of housing recovery that circulated in 2010, clearly indicate that the nation's housing markets are now firmly entrenched in a double-dip and come fully in-line with the other pitiful housing data-points I have outlined in past weeks.
As a result of the slower sales pace, the monthly supply increased to 8.9 months while the median selling price declined a notable 8.92% and the average selling price declined a whopping 13.41%.
The following chart show the extent of sales decline to date (click for full-larger version).