The housing market is so overbuilt that it will take years to recover.
* * * * * J B K * * * * *
San Francisco
http://finance.yahoo.com/news/February-existing-home-sales-apf-78982446.html?x=0
WASHINGTON (AP) -- Sales of existing homes fell for a third straight month in February, pushing sales down to the lowest level since last July. There is concern the fragile housing rebound is faltering, making it harder for the overall economy to recover.
The National Association of Realtors said Tuesday that sales of previously occupied homes dropped 0.6 percent in February to a seasonally adjusted annual rate of 5.02 million.
The weakness in sales depressed prices with the median home price dropping almost 2 percent from a year ago to $165,100.
