Existing home sales fall fastest since '89


	Existing home sales fall fastest since '89

ericskiff

4-24-2007 1:52 PM

565 views

tags:

housing bubble, economy, housing, nytimes

ericskiff says:

I don't think we're anywhere near the bottom of this drop yet.

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4-24-2007 3:06 PM

The REAL Napster

The stock market is next.
Film @ 11:00

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/948cc3f0-7609-4b9b-b4e5-8316269c776d/95C65967-3514-4F02-96FA-0ECD912730C0/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2007/04/25/business/25econ.web.html?_r=1&hp&oref=slogin" href="http://www.nytimes.com/2007/04/25/business/25econ.web.html?_r=1&hp&oref=slogin" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2007/04/25/business/25econ.web.html?_r=1&hp&oref=slogin"><P>Sales of previously owned homes suffered their biggest drop in nearly two decades last month, raising concerns that a rebound in the housing market is still far off. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2007/04/25/business/25econ.web.html?_r=1&hp&oref=slogin"><P>The <A title="More articles about National Association of Realtors" href="http://topics.nytimes.com/top/reference/timestopics/organizations/n/national_association_of_realtors/index.html?inline=nyt-org">National Association of Realtors</A> said today that sales of existing homes, which account for about 80 percent of all home sales, fell 8.4 percent in March. That was the steepest decline since 1989. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2007/04/25/business/25econ.web.html?_r=1&hp&oref=slogin"><div align="center"><img src="http://content7.clipmarks.com/blog_cache/www.nytimes.com/img/4646A622-7487-4E0E-96BA-123ABBF8CAA7" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2007/04/25/business/25econ.web.html?_r=1&hp&oref=slogin"><P>The realtors’ association report reflected a housing market that is becoming increasingly unfriendly to anyone looking to sell their home. While the number of unsold existing homes for sale fell 1.6 percent in March, to 3,745,000, the time it took to sell a home increased. There was a 7.3-month supply of unsold properties on the market last month, up from a 6.8-month supply in February.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2007/04/25/business/25econ.web.html?_r=1&hp&oref=slogin"><P>Economists said that if home prices continued to fall, potential buyers would be discouraged from acting while they waited for the bottom of the market to hit.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/95C65967-3514-4F02-96FA-0ECD912730C0/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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