Existing Home Sales and Housing: A Long Way From Normalcy

GC Mays submits:

The National Association of Realtors reported today that sales of existing homes slumped in October after rising in consecutive months. Existing home sales declined by 2.2% to a seasonally adjusted annual rate of 4.43 million units. This is 25.9% below the 5.98 million units sold a year ago. Median home prices declined 0.9% from October 2009 to $170,500.

Higher Underwriting Standards

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