Wednesday, February 28, 2007

Polar Plunge for Housing

January brought more than North Pole temperatures to the nation - it also brought freezing home sales.

Brokers and real estate analysts are predicting that the glut of real estate agents on the market will greatly diminish in the next couple of years as the market kicks people out. And given the news from CNN and MSNBC, it may take less than two years.

According to both news venues, sales fell over 16 percent from the previous month. From MSNBC:
The monthly decline was the sharpest in 13 years, since a 23.8 percent drop-off in January 1994.



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