U.S. home sales might have bottomed in December

January 25, 2007
The decline in the housing market is past, the National Association of Realtors said today. The organization reported December sales of existing homes fell 0.8 percent from November to an annual rate of 6.22 million.

Still, inventories of unsold homes dropped 7.9 percent—to a 6.8-month supply. The $222,000 median sale price was unchanged from a year ago.
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