U.S. existing home sales lowest in 9 years

[ZombieHorde]

Existing home sales plummeted to the lowest level in nine years nationwide, as the housing market battles a critical credit crunch and a flood of homes listed for sale, the National Association of Realtors said Monday.

The seasonally adjusted annual rate dropped to 4.89 million homes last month, the lowest recorded since 1999, when the national association began tracking the activity.

And the median home price -- meaning half the homes sold for more, the other half for less -- declined for the fifth-consecutive month to $201,100, a 4.6 percent drop from $210,900 a year ago.

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http://www.bizjournals.com/pacific/stories/2008/02/25/daily3.html

Republican foreign policy is a terrible disaster, their economic policies are costing people their homes, and our freedoms are going away. Please vote Dem in '08

[Quantess]

1. The mortgage crisis is a huge upheaval which isn't close to being over yet.

Interesting article. Welcome to DU!