November 28, 2005

FLASH: U.S. Existing Home Sales Fall More Than Expected - Unsold Homes at 20-Year High

Data starting to catch up with the realities from the street... This should freak out the housing stocks again - Toll Brothers, Pulte, Lennar, Standard Pacific, Fannie, Freddie, etc

Rising mortgage rates and skyrocketing prices put home-buying out of reach for more Americans in October, a new report showed.

Sales of previously owned U.S. homes fell a greater-than- expected 2.7 percent last month to a 7.09 million annual rate, the slowest since March, the National Association of Realtors said today in Washington. The number of unsold homes was the highest since April 1986

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