Existing-Home Sales Fall As Backlog Hits 10.7 Months
The Record, Bergen County, NJ › May 25, 2008
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Summary
WASHINGTON Existing-home sales fell for the eighth time in the past nine months a string of weakness expected to continue as the housing industry, mired in its worst slump in decades, battles falling home prices, tight lending conditions and a weak economy.
The National Association of Realtors reported Friday that sales of existing homes dropped 1 percent to a seasonally adjusted annual rate of 4.89 million units, matching the all-time low set in January. These records, which cover single-family homes and condominiums, go back to 1999.See the full content of this document
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Existing-Home Sales Fall As Backlog Hits 10.7 Months
The median price for an existing home drop...
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