Lowest House Sales Report Cause Increasing Anxiety
January 6, 2009
Washington (ChattahBox) – According to the National Association of Realtors, the amount of home sales plunged to it’s lowest records of the year in November, and that the number were worst then even the most cynical economists had anticipated.
A survey done this month showed that most economists had predicted a drop to 88 on the index, but the number was significantly lower, coming in at 82.3 by the end of the month, breaking the previous low record of 83 in March 2008.
Numbers are set to fall lower as people continue to stay away from the housing market, despite drastic cuts by the Feds on interest rates, as they try to coax consumers back into the water.
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