National Sales Fall in January

Tuesday, March 03, 2009 - By Gate Arty

According to statistics released by the National Association of Realtors, The PENDING HOME SALES INDEX dropped to 80.4 in January from 87.1 in December. This represents a dip of nearly 8%. This is the lowest it has been since 2001. Although on a national level sales are still soft, as buyers are seemingly lurking on the "sidelines" waiting for the final results of the government stimulus package, it is expected that the new $8,000 tax credit is going to have a very positive effect on market conditions.

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