Tuesday, March 22, 2011

Housing Recovery?? When?? Wow


Headlines this week

(Reuters) - Sales of previously owned U.S. homes plunged in February and prices hit their lowest level in nearly nine years, indicating a housing market recovery was still a long way off.

The National Association of Realtors said on Monday sales fell 9.6 percent month over month to an annual rate of 4.88 million units, snapping three straight months of gains. The percentage decline was the largest since July.


WASHINGTON (MarketWatch) — Sales of previously owned homes dropped 9.6% in February and prices fell to their lowest level since 2002, reflecting a continued slump in the U.S. real estate market.


(Paper Economy)
Today, the National Association of Realtors (NAR) released their Existing Home Sales Report for February showing a notable triple blow to the nation's housing market with declining sales, falling prices and increasing inventory clearly indicating that housing remains historically weak and adds further evidence that a double-dip has materialized in the wake of the governments housing tax scams.

It still appears people and families are moving! Our phones are ringing.

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