Confirmed: National home sales have fallen by 8% in September alone, reports the National Association of Realtors. This is the largest decline on record since 1999 in an industry that is feeling the pain— the worst it's felt in 16 years, according to the Associated Press. We hate love to be the bearer of bad good news (depending on how you look at it), but the median price of homes tanked by $21,700 last month. "Experts" had predicted a $4.5 percent dip— not this 8% business. The Northeast and West are taking it the hardest, with a 10% drop in L.L. Bean country and 9.9% over here in Patagonia land. Predictions: further cuts be the Feds and more unsold homes. Carry on with the doubling over, fainting, crying, and other outward displays of discomfort.
· Home Sales Plunge by 8 Percent [AP/ Yahoo Finance]
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