Subprime Problems, Weather Contribute to 8.4% Drop in March
By Nancy Trejos
Washington Post Staff Writer
Wednesday, April 25, 2007; D02
Growing problems in the mortgage industry combined with bad weather in some parts of the country to fuel the steepest one-month decline in sales of existing homes in nearly two decades, the National Association of Realtors reported yesterday.
Sales of previously owned homes in March fell 8.4 percent from February, the group reported. It was the largest one-month drop since sales plummeted 12.6 percent in January 1989, when the country was in a housing recession. It was also 11.3 percent below the number of units sold in March 2006.
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http://www.washingtonpost.com/wp-dyn/content/article/2007/04/24/AR2007042400627_pf.html
