Friday, November 28, 2008

Report on Existing Home Sales is Not Encouraging

The Star-Ledger writes about nationwide problems with the real estate market.

According to the coverage, the National Association of Realtors said this week "sales of existing homes fell 3.1 percent, to a seasonally adjusted annual rate of 4.98 million units in October, from a downwardly revised pace of 5.14 million in September. Sales had been expected to fall to a rate of 5.05 million, according to economists surveyed by Thomson Reuters," the Star-Ledger reports.

New Jersey is not immune from the sales fall-off.

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