House Price Crash
The housing slump has shown few signs of easing. Yes, there have been a few bright spots: New housing construction rose 22 percent in February, according to the National Association of Home Builders. And the sales of existing single-family homes, condominiums and co-ops rose 5.1 percent in the same month, according to the National Association of Realtors.
Many financial experts and housing analysts, though, suspect that those numbers represent temporary blips. They point to the evidence that the housing market has not dug itself out of its slump just yet: Housing prices in February declined again. And housing sales, despite their uptick in February, were still 4.6 percent lower in the month than they were during February of 2007.
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