Sharp Drop in Existing Home Sales in January
From the NEW YORK TIMES:
Sales of existing home in January fell 7.2 percent to a seasonally adjusted annual rate of 5.05 million, according to a report by the National Association of Realtors. Analysts had expected an increase of 0.9 percent….
Worries that the housing market could slip into another downturn resurfaced this week in the wake of several disappointing reports. Applications for mortgages dropped to the lowest level in 13 years last week. Sales of new homes fell to the lowest level since record-keeping began in 1963. Home prices in major cities increased only slightly in December, according to one barometer, and a broader index showed prices actually falling…
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