Economic Report: Housing’s “August of Discontent” - 10/03/07
Submitted by Doug Cunningham on October 2, 2007 - 5:18pm
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By Jesse Russell
When it comes to home sales, it was an August of discontent. According to new numbers released from the National Association of Realtors pending home sales dropped 21.5 percent since this time last year and hit the lowest level since January 2001. The West is being hit the worst with a 27,1 percent drop year-to-year. The Association insists that the situation in the housing market is temporary.
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