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Existing Single-Family Home Sales Drop
Sales of Existing Single-Family Homes Drop in 2007 by Largest Amount in 25 Years
January 24, 2008
By
Martin Crutsinger
(View author info)
Copyright Associated Press
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| Washington, District of Columbia - Sales of existing homes fell in December, closing out a horrible year for housing in which sales of single-family homes plunged by the largest amount in 25 years. The median home price dropped for the entire year, the first time that has occurred in four decades. The growing worries about the economy in an election year have captured the attention of President Bush and congressional leaders who are working to put together a $150 billion economic stimulus package that will include tax relief for households and businesses in an effort to bolster economic activity.
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