Think Progress

Home sales hit slowest pace in 18 years.

By Amanda Terkel on Dec 23rd, 2008 at 11:50 am

Home sales hit slowest pace in 18 years.

According to the National Association of Realtors, “Sales of existing homes plunged 8.6% in November to a seasonally adjusted annual rate of 4.49 million, from a revised 4.91 million rate in October. … It was the slowest pace in nearly 18 years.” The Commerce Department also reported that sales of new single-family homes also fell in November, to the weakest levels since 1991.”

Comments
8

6 Responses to “Home sales hit slowest pace in 18 years.”

jb says:

Ah yes, the wonders of the “Ownership Society”. The top 1% will end up owning everything of value.
December 23rd, 2008 at 11:55 am
kasinca says:

W Bush = Worse than Herbert Hoover and Richard Nixon.

Well done, shrub!
December 23rd, 2008 at 11:57 am
tarazan says:

Now what Rush Limbaugh will say about that..?!
May be it is a ‘realtors conspiracy’ to help Obama..!
December 23rd, 2008 at 12:02 pm
RantingTommy says:

Seems like all these out of work construction workers should have turned off the radio and learned something before they voted for bush and the trickle down economic scam

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December 23rd, 2008 at 12:08 pm
PatrioticLiberalChristian says:

RantingTommy, here in my very red county, the blue collar and union folks still voted Republican up and down the 2008 ticket! Amazing. Our local Democratic Club is going to try to do something about that for the future and it looks like I am going to be having a leadership role in that effort. Obama is a phenomenon that is not likely to be repeated anytime soon, so we cannot be complacent.
December 23rd, 2008 at 12:19 pm
drew3rd says:

As a commercial, industrial and residential appraiser, I can tell you that the housing market is the fault of democrats. If we want to be credible we need to be honest about our mistakes. The repubs need to admit that Bush spent us into oblivion and created the atmosphere that is destroyinf Wall Street. Democrats need to admit that the relaxed lending standards forced through in ‘94, coupled with the $850 billion dollar bailout have destroyed our real estate market for the time being. Finger pointing doesn’t solve anything. Firing the people responsible and replacing them with more competent folks does. Bush down, Frank, Dodd and Schumer to go.
December 24th, 2008 at 8:40 am

Home sales hit slowest pace in 18 years.

Home sales hit slowest pace in 18 years.

6 Responses to “Home sales hit slowest pace in 18 years.”

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