Profile picture for pure republican

Home sales drop 9.6 %,

"This is an article from YahooWASHINGTON (AP) -- Fewer Americans bought previously occupied homes in February, pushing the median home price down to its lowest level in nearly 9 years.

The National Association of Realtors say sales of previously occupied homes fell to a seasonally adjusted annual rate of 4.88 million. That's down 9.6 percent from 5.4 million in January. The pace is far below the 6 million homes a year that economists say represents a healthy market.

The median sales price fell 5.2 percent to $156,100, the lowest level since April 2002.

Sales of homes at risk of foreclosure rose to 39 percent of all sales in February"

  • March 21 2011 - US
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Answers (4)

Profile picture for HousePoorAmerica

Along with this the government announced today it will slowly start pulling out the last prop in the housing market… This is great news, the market can finally re correct itself and prices will come down to REAL affordable levels…

  • March 21 2011
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Profile picture for Lady Chattel
I can't wait to see how the NAR spins this into good news for real estate and how it is THE TIME TO BUY!
  • March 21 2011
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Ok, lets look at some reasons why there may be a slow down.  No jobs, high oil/gas prices and the USD (US dollar) is tanking.  With the dollar going lower and testing a triple bottom we all just took a pay cut.  Gee can't see why things are bad.  All we need to do is spend more...that worked.
  • March 21 2011
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Profile picture for workabee
Every unqualified doe eyed nimrod who could buy did buy. Their credit got a 3 year burn notice so the markets busted for now. 
  • March 21 2011
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