Summary
WASHINGTON- Sales of previously occupied homes rose in 2009 for the first time in four years, despite a December slump that was due to a tax credit that caused many buyers to complete sales earlier.
Still, prices plunged more than 12 percent last year - the sharpest fall since the Great Depression. The price drop for 2009 - to a median of $173,500 - showed the housing market remains too weak to help fuel a sustained economic recovery. Total sales for 2009 were nearly 5.2 million, up about 5 percent from 2008.See the full content of this document
Extract
Existing-Home Sales Up; Housing Market Weak
Concerns remain that the housing market will weaken after March 31, when the Federal Reserve is set to end its program to buy mortgage securities to kee...
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