The supply of homes for sale is up to the highest level in 22 years. The National Association of Realtors reported Wednesday sales of existing homes fell for an eighth straight month in October while more properties came on the U.S. housing market.
Sales are down 20.7% in the past year and are down 31%...
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Archive for November, 2007
It’s Getting Waist-Deep in Houses as Supply Swells to 22 Year High
Who Is Not Sleeping in My Bed? Moans La-Z-Boy Due To Housing Slump
La-Z-Boy posted a loss of $9.9 million compared with a profit of $2 million in the year ago period. A weak housing market and a slowing economy is to blame.
Consumers aren’t buying big-ticket items like furniture since they can’t use their house like an ATM machine anymore. Add to that higher gas prices and mounting...
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It’s hailing foreclosures on one out of every 196 homeowners – Yikes!
U.S. residential foreclosure filings nearly doubled last quarter from a year earlier. Foreclosure filings for July-September rose to 635,159, representing one in every 196 households and a 30 percent jump from the second quarter, according to RealtyTrac.
In 45 out of 50 states the level of foreclosures rose in the quarter, with Nevada, California and...
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