Friday, May 27, 2011

CNBC: Pending Home Sales Plunge, Reaching Seven-Month Low

Quote from the article: "Pending sales of existing U.S. homes dropped far more than expected in April to touch a seven-month low, a trade group said on Friday, dealing a blow to hopes of a recovery in the housing market."

I think I can answer the questions of why the continued drop off in housing is occurring with a single word: jobs.

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