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November 28, 2006
Today's Housing Bubble Post - Prices Tumble
-- by Dave Johnson
Existing home prices tumble despite sales uptick,
Nationwide existing home sales rebounded last month but the median sales price took its biggest year-over-year decline in nearly four decades, according to real estate figures released today.\... The modest rebound in sales may indicate that the nationwide housing slow down might be bottoming out — but any noticeable relief for sellers probably won't come until next year, according to some housing observers.
... But other economists say a turnaround is still far away, with many signs pointing to a buyer's market for some time to come. For example, the inventory of unsold homes, increased 1.9% in October to 3.85 million existing homes.
Posted by Dave Johnson at November 28, 2006 3:48 PM
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