Monday, February 25, 2008

Existing home sales hit 9-year low (AP)



A price reduction sign tops the placard for an existing home on the market in south Denver on Sunday, Feb. 17, 2008. Sales of existing homes fell to the lowest level in nearly a decade in January while the median price for a home dropped for the fifth straight month. (AP Photo/David Zalubowski)AP - Sales of existing homes fell for the sixth straight month in January, dropping to the slowest sales pace on record. Median home prices were also down and many analysts predicted further price declines in the months ahead given high levels of unsold homes.




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