Just when you think there might be a slight economic recovery, we learn that the National Association fo Realtors reports that previously owned home sales fell unexpectedly to 5.05 million annual pace. The mdiean price of a home in the U.S. dropped another 5% from a year earlier.
This fact I cannot stress enough -- 37% of all sales were of foreclosed homes or short sales.
Finally, the share of mortgages overdue by one month or more rose in the first quarter to 8.32 percent from 8.25 percent, according to the MBA data.
So where does it end? What is happening to this nation?
More soon in this blog on local conditions.
Mansfield Law Office
http://www.venturadebtlaw.com
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