Barry Marx
New member
Sales of existing U.S. homes fall 27%
Sales of previously owned homes plunged 27.2% nationally in July -- fallout from the expiration of a popular federal tax credit that had fueled the market for much of the year.
The big drop, which was worse than what many analysts had expected, sent stock markets tumbling Tuesday morning as investors feared a double dip in housing. The blue-chip Dow Jones industrial average fell more than 1%, as did the S&P 500, a broader measure of stocks.
The National Assn. of Realtors said that the seasonally adjusted annual rate of sales was 3.83 million units in July, a drop from the downwardly revised 5.26-million-unit rate in June and a 25.5% drop from the 5.14-million-unit level in July 2009.
It was the lowest sales level since 1999. The sales rate for single-family homes -- which accounted for the bulk of sales -- was at its lowest level since May 1995.
http://www.latimes.com/business/la-fiw-home-sales-20100824,0,4314929.story?track=rss
Yes a RECORD LOW in 15 YEARS, just think IF the 'brilliant" Obama actually created jobs they would have MONEY to buy homes, and the jobs by the way , are in the PRIVATE sector, you know the companies run by the "rich guys" that the liberals hate.
Sales of previously owned homes plunged 27.2% nationally in July -- fallout from the expiration of a popular federal tax credit that had fueled the market for much of the year.
The big drop, which was worse than what many analysts had expected, sent stock markets tumbling Tuesday morning as investors feared a double dip in housing. The blue-chip Dow Jones industrial average fell more than 1%, as did the S&P 500, a broader measure of stocks.
The National Assn. of Realtors said that the seasonally adjusted annual rate of sales was 3.83 million units in July, a drop from the downwardly revised 5.26-million-unit rate in June and a 25.5% drop from the 5.14-million-unit level in July 2009.
It was the lowest sales level since 1999. The sales rate for single-family homes -- which accounted for the bulk of sales -- was at its lowest level since May 1995.
http://www.latimes.com/business/la-fiw-home-sales-20100824,0,4314929.story?track=rss
Yes a RECORD LOW in 15 YEARS, just think IF the 'brilliant" Obama actually created jobs they would have MONEY to buy homes, and the jobs by the way , are in the PRIVATE sector, you know the companies run by the "rich guys" that the liberals hate.