Disastrous. This is the MOM January to February 2011, and YOY for Feb 2010, the decline was worse at -28%. This data is for contracts. Meaning that closed sales for April & May, "Spring Selling Season," will be weak.
"The housing market has literally collapsed," said Tony Sanders, a real estate finance professor at George Mason University. "We're stuck, it's not going to revive in the Spring,
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