Hot on HuffPost:

See More Stories

Home Sales Slump for Second Straight Month

4 years ago
  0 Comments Say Something  »
Text Size
Sales of previously owned homes dropped in January for the second straight month, a trend the chief economist for the National Association of Realtors called "not encouraging."

The realty group reported sales of existing houses, townhouses, and condos were down 7.2 percent to 5.05 million last month, according to The Washington Post. December saw a record 16.2 percent decline.

Economist Lawrence Yun said Realtors are holding out hope the trend may reverse itself in spring, when more Americans are expected to take advantage of a recently renewed tax credit for first-time buyers and some current homeowners.

January's numbers, as bad as they were, marked an 11 percent improvement from a year ago.

On Wednesday, the Commerce Department reported sales of new homes fell 11.2 percent in January, a jolt to economists who expected a modest improvement from the December pace.
Filed Under: Economy

Our New Approach to Comments

In an effort to encourage the same level of civil dialogue among Politics Daily’s readers that we expect of our writers – a “civilogue,” to use the term coined by PD’s Jeffrey Weiss – we are requiring commenters to use their AOL or AIM screen names to submit a comment, and we are reading all comments before publishing them. Personal attacks (on writers, other readers, Nancy Pelosi, George W. Bush, or anyone at all) and comments that are not productive additions to the conversation will not be published, period, to make room for a discussion among those with ideas to kick around. Please read our Help and Feedback section for more info.

Add a Comment

*0 / 3000 Character Maximum Comment Moderation Enabled. Your comment will appear after it is cleared by an editor.

Follow Politics Daily

  • Comics
robert-and-donna-trussell
CHAOS THEORY
Featuring political comics by Robert and Donna TrussellMore>>
  • Woman UP Video
politics daily videos
Weekly Videos
Woman Up, Politics Daily's Online Sunday ShowMore»
politics daily videos
TV Appearances
Showcasing appearances by Politics Daily staff and contributors.More>>