November pre-owned home sales were off 33 percent from a year ago. And price dropped 7 percent.
The sales percentage decline is the largest recorded in this area; read the full story for more details.
With continued softness in the new-home market, and the recession lessening the flow of business relocations, I’d expect residential real-estate softness for 7-9 months or so. And, if Big D is in that much recessionary struggle, no, this probably won’t be a mild one.
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