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News Link • Housing

Home Sales Plunge Most In 3 Years, Drop 8th Months In A Row

•, Tyler Durden
  This is the 8th month in a row of home sales drops (pre-weather).
Don;t worry though - a glimpse at the charts shows things are stabilizing as NAR's Larry Yun suggests..
Yun, NAR chief economist, said the recent slowdown in home sales may be behind us, while home prices continue to rise. “Contract signings for the past three months have been little changed, implying the market appears to be stabilizing,” he said. “Moreover, buyer traffic information from our monthly Realtor® survey shows a modest turnaround, and some weather delayed transactions should close in the spring.”

Umm, no.

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