The Housing Bubble Begins Bursting?

Home sales dropped in November by the largest percentage since 1994. Is this the beginning of the end for the real estate bubble?

1 minute read

December 25, 2005, 5:00 AM PST

By Renae

"Sales of new homes tumbled 11 percent in November, the biggest drop in more than a decade, in another sign pointing to a slowdown in the nation's real estate market.

...The Census Bureau reported Friday that the annual pace of new home sales dipped to 1.25 million in November from the record high of 1.4 million in October, which was revised slightly lower. Economist surveyed by Briefing.com had forecast sales would slow to a 1.3 million annual rate."

Thanks to RL Gabrielson

Read the full story: New home sales tumble 11 percent

Friday, December 23, 2005 in CNN.com

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