Home Sales Hit Nadir
August 7th, 08The American housing crisis shows few signs of abating. The National Association of Realtors released figures earlier today that show Americans are able resell fewer and fewer homes than ever before.
Over the course of 2008, the number of non-new one-family homes sold across America has decreased by 15.5%. Since 2005, the highest point of the housing bubble, that figure has fallen by 33%. During the month of June, that number had decreased by 2.6%, a very high loss for only one month. If the June rate of US homes sold continued for over a period of one year, it would amount to 4.86 million non-new homes sold–the lowest number of non-new homes sold in ten years.
Tags: average home, Realtors released figures, U.S. Housing Market, recent additions, insurance, housing bubble
