U.S. Economy: Sales of Previously Owned Homes Decline - 2007-01-25
Sales of previously owned homes in the U.S. dropped in December for the first time in three months, registering the largest annual drop since 1989, a slide that's displaying signs of bottoming. Purchases decreased 0.8 percent to an annual rate of 6.22 million, the National Association of Realtors said today in Washington. For the whole year, sales decreased 8.4 percent from 2005's record.
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Housing glut gives buyers upper hand - 2007-01-25
Amid a persistent glut of homes for sale in most of the country, buyers should have good choices and lots of bargaining power going into the spring selling season - typically the busiest time of the year. Various builders and real-estate brokers hope the housing market will begin to recover this year as buyers respond to price cuts and other incentives offered by increasingly nervous sellers.
Read the full story at Arizona Republic