The 10 States Where No One Wants to Buy a New Home

new home sales
new home sales

There is a strong indication that homebuilders have almost ceased activity in several states as demand for newly built homes has dwindled. The slowdown in new home permits is particularly stark when compared to the total number of existing homes in each state. 24/7 Wall St. looked at the statistics for building permits to find the states where no one wants to buy a new home.

Building permits are among the carefully watched numbers issued by the real estate industry each month. Permits are needed in most jurisdictions before individuals or contractors can break ground. Therefore, they are a reasonable indicator of future home construction. The data on permits is issued by the Commerce Department.

Building permits have fallen in most months since the housing crash began in 2007 -- a trend that continues today. In the first half of 2005, slightly over 1 million permits were issued; there were fewer than 300,000 in the first six months of this year. Some states have seen an 80 percent decline in new permits.