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And the Bad News: Existing Home Sales Dive 23.4% in January

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And the band plays on: Housing sales have continued to hit the skids, according to a recent report issued by the National Association of Realtors. The national median existing home price sunk 4.6% from 2007, total housing inventory rose 5.5%, single family homes sales rate sunk 22.4% since January 2007, et cetera, et cetera. The going theory? Prospective home buyers are simply riding the bench while holding out for better deals. [The Big Picture]