Pending home sales fall 1.5% in December, signaling housing slump continues
Posted by: in Stocks Money NewsFiled under: Bad news, Housing, Recession
Sales of previously-owned homes fell for the second consecutive month in December 2007, signaling that the nation’s worst housing slump in more than 20 years is no where near recovery stage.
The National Association of Realtors’ index of signed purchase agreements decreased 1.5% to 85.9 in December 2007, the group said Thursday, in a statement. Economists had expected the index to fall about 1% in December. The index fell a revised 3% in November 2007, a downward revision.
Another sobering housing stat
Economist Glen Langan told BloggingStocks there’s no way one can sugarcoat Thursday’s housing sector statistic.
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