Homes Resale at 9 year low
Reports have been going around today sourcing from NAR that the revised figures of last year existing home sales is down 0.49% from last year, which puts us at a 9-year low. The current market has been described as “the worst downturn since the Great Depression of the 1930s”. No one sees a fast turnaround here. In my previous post, I was anticipating that we’re now in a local minimum, and will see a peak of light by the end of the year.
I think now we will be very very focused on the Fed’s statement in front of congress on Wednesday and Thursday, plus the election process and how the three possible presidents plan to solve this mess.
Technorati Tags: real, estate, market, decline, low, slump, existing homes, resale, depressionTags: decline, depression, estate, existing homes, low, market, real, resale, slump
