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Home sales show an unexpected increase
February 18th, 2009 7:41 AM
Home sales show an unexpected increase
Sales of existing homes posted an unexpected increase last month, as consumers snapped up bargain-basement foreclosures in California and Florida, closing out the worst year for the U.S. real estate market in more than a decade.
Analysts, however, cautioned that prices are likely to keep falling through 2009, and said the outlook for home sales is highly uncertain, despite a boost from low mortgage rates.
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Posted by David Moore (VA#5000929) on February 18th, 2009 7:41 AM
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