Sales of existing homes rose slightly for the first time in 9 months, but prices fell. Analysts do not think the bottom has yet been reached: “Given stress in the mortgage market and depressed buyer sentiment, we judge this to be a brief respite and look for sales to fall further,” Lehman Brothers economist Michelle Meyer said. [Wall Street Journal]
More From Consumerist
- Report: Sports Authority’s Last Hope To Keep Its Name Alive Backing Away From Deal
- Why Are Home Depot & TJ Maxx Bringing In Customers Other Retailers Can’t?
- Some Banks Offering Tech Employees Mortgages With No Down Payment
- GE Selling Its Appliance Business To China’s Haier For $5.4 Billion
- Nordstrom Now Facing Same Sales Slump, Challenges As Other Mall Retailers