Hope your week went better than the recent Housing Market numbers!
On that sour intro, NAR Existing Home Sales were released this week, and they showed us an almost 10% drop from January to February, and nearly a 3% drop from a year earlier. New Residential Sales were even worse, with almost a 17% drop from January to February, and, get ready for this...a 28% drop from exactly one year earlier.
The Home Price Index that is tallied by FHFA did not fair any better. We saw home prices drop 0.3% from December 2010 to January 2011, but for the 12 months ending in January, prices fell 3.9%. To put these numbers in perspective, the U.S. index is 16.5% below its April 2007 peak.
So, how was your week...?
Have a Great Weekend, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com
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