Sales of previously occupied homes fall 5.1 pct

Author: Brian Olsen  //  Category: Uncategorized

Sales of previously occupied homes fall 5.1 pct. ~ With sales expected to slide further, home prices nationally are predicted to drop 1.7% this year compared to last year, according to analysts.  The supply of unsold homes on the market has risen 2.5% to the highest level since August.  Home sales are down 26% from the peak in September 2005 but have climbed 19% from the lowest level hit in January 2009.  “It’s still a fragile situation in the housing market,” said Lawrence Yun, chief economist for the National Association of Realtors.

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