U.S. Oct. existing home sales fall 3.1% to 4.98 mln units – MarketWatch
by Tom on November 24, 2008
in Market Musings
Resales of U.S. single-family homes and condos fell 3.1% in October to a seasonally adjusted annual rate of 4.98 million, the National Association of Realtors reported Monday. Resales have sunk 1.6% in the past year. Economists surveyed by MarketWatch expected sales to fall to 5.0 million. The inventory of unsold homes on the market fell 0.9% to 4.23 million, a 10.2 month supply at the current sales pace. The median sales prices fell 11.3% in the past year to $183,300. This is the lowest sales price since March 2004.
U.S. Oct. existing home sales fall 3.1% to 4.98 mln units – MarketWatch.
You’re going to find the main stream media attempting to spin thsi report in a variety of ways. I’m just going to make one point about it….
In terms of the housing market, we can’t really say we’re at a bottom yet (at least not nationally.
