Existing Home Sales down 2.0 %
April 29th, 2008
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Home sales and prices are hitting bottom hard as previously posh neighborhoods with green lawns and filled with plants and flowers are turned into barren moon-like landscapes as house sales dwindle to ever lower levels. The figures for February shows them at 5.03 million units but March has them only at 4.03 % meaning less and less are being sold. These properties include existing single-family homes, townhouses, condominiums and co-op’s. Regionally, sales were nice in the Northeast and the West but very bad for the Midwest and South as everybody is touched by the effects of the sub-prime lending market problems that has rocked the world’s financial services.



