Economic Report: 2007 U.S. Home Sales Worst On Record – 01/29/08
By Jesse Russell
So how bad was 2007 for new home sales? The Commerce Department officially released numbers this week and the picture being painted is not good. Sales of new homes dropped to 26.4 percent making it the worst year on record. The numbers for 2007 have economists concerned that the United States could be facing a housing recession even worse than the one from the early 80s.