From CNN, 4/24/07:
http://money.cnn.com/2007/04/24/news/economy/home_sales/index.htm?cnn=yes
Home sales: Worst drop in 18 years
Sales pace much lower than forecasts, prices show year-over-year drop
for eighth straight month.
By Chris Isidore, CNNMoney.com senior writer
NEW YORK (CNNMoney.com) --
Home sales posted their sharpest drop in 18 years in March, a real
estate group said Tuesday, as problems in the subprime mortgage sector
pushed sales well below what economists had forecast.
Sales of existing homes fell 8.4 percent to an annual rate of 6.12
million in March from February's 6.68 million rate, the National
Association of Realtors said.
It was the biggest one-month drop since January 1989.
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Harry
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