November 28, 2007

Home sales at record low as durables orders fall (Reuters)

A sign points to a home for sale in Washington in a file photo. The pace of existing home sales in the United States fell 1.2 percent in October to a record low 4.97 million-unit pace, the National Association of Realtors said Wednesday, amid a nationwide credit crunch and a spike in failing home loans. (Richard Clement/Reuters)Reuters – Sales of previously owned homes
dropped to a record low in October and businesses slashed
spending on new equipment, according to reports on Wednesday
that added to signs of a rapidly slowing economy.

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