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- Home prices down and unsold listings way up
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The big news in the April existing home price report released today by the National Association of Realtors wasn’t the 8% drop in median home prices or the better-than-expected 1% decline in sales.
It was the whopping 10.5% jump in the inventory of unsold homes. The number of homes available for sale jumped to 4.55 million at the end of April, representing an 11.2-month supply at the current sales pace. There was a 10-month supply of homes at the end of March.
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Original Source: www.businessweek.com
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23 May, 2008| housingblogs |
@ 17:43