Housing sales drop in 40 states
By MARTIN CRUTSINGER, AP Economics Writer
WASHINGTON - The slump in housing deepened in the final three months of last year with sales falling in 40 states and median home prices dropping in nearly half the metropolitan areas surveyed.
Formerly red-hot areas were among the hardest hit as the five-year housing boom cooled considerably in 2006.
While some economists said they believed the worst may be over for housing, others predicted more price declines to come until near-record levels of unsold homes are reduced.
For Full Story, click on title of story above....
WASHINGTON - The slump in housing deepened in the final three months of last year with sales falling in 40 states and median home prices dropping in nearly half the metropolitan areas surveyed.
Formerly red-hot areas were among the hardest hit as the five-year housing boom cooled considerably in 2006.
While some economists said they believed the worst may be over for housing, others predicted more price declines to come until near-record levels of unsold homes are reduced.
For Full Story, click on title of story above....
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