Electronics Sales Suffer from Slow Housing Market
- Mar 10, 2008
Port Washington, N.Y.–The real estate slump is hurting consumer electronic sales, according to USA Today.Traditionally, electronic sales have fared well in downturns. Yet nearly every area in the U.S. where consumers were purchasing fewer TVs, digital cameras and other electronics also had a decline in home prices in the fourth quarter of 2007, a new study from Port Washington, N.Y.-based research firm NPD says. Sacramento, Phoenix, Tampa and Detroit were the four urban areas with the largest electronics spending decreases, compared with 2006. The cities were also part of the top 10 major markets for drops in home prices, according to the National Association of Realtors.Sacramento had both the biggest electronics sales decline and the largest fall in housing prices.