The numbers: U.S. existing-home sales fell 0.7% to a seasonally adjusted annual rate of 4 million in January, the National Association of Realtors said Tuesday.This is the 12th straight monthly decline in existing-home sales. The 12-month losing streak is the longest since NAR began tracking sales in 1999.Economists polled by...
Tag: house market decline
Economist who called 2008 housing crash predicts another 15% drop in home prices
The recent analyst note by a U.S. economist who predicted the 2008 housing crash has sparked heated debate among experts. The economist believes that home prices could plunge another 15% this year, and this has caused alarm among many in the industry. This prediction has been met with skepticism from...
