U.S. Housing Market has Peaked, Economist Says

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00001823-us-housing-market-has-peaked-economist-sa/

By Rex Nutting, MarketWatch

Sales of existing U.S. homes dropped 2.7% in October, signalling that the sizzling housing market has peaked, the National Association of Realtors said Monday.

Existing home sales fell to a seasonally adjusted annualized rate of 7.09 million from a revised 7.29 million in September. Economists were expecting a smaller decline in October to about 7.20 million, according to a survey conducted by MarketWatch.

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U.S. Housing Market has Peaked, Economist Says

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