Housing Mortgages Information

Existing Home Sales Drop Again

Despite the steadily dropping sales throughout the year, 2007 ended up with the fifth highest sales of existing homes on record. 5,652,000 existing homes sold during the year but this was 12.8 percent fewer units than the 6,478,000 sold in 2006.

Lawrence Yun, NAR chief economist, said, "Home sales remain weak despite improved affordability conditions in many parts of the country, but we...