Sales of existing homes in November fell 20% from the same month last year to a seasonally adjusted annualized rate of 5 million units, according to the National Association of Realtors. Single family existing home sales dipped 19.9% in the month from November, 2006, to a rate of 4.4 million units.
Median sales price for an existing home in November was $210,200, 3.3% below levels for November of the year before.
Going into 2008, this probably sums up the situation as well as anything.
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