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38%  
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Keyword: expectmoreofthesame

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  • Existing home sales drop 3.8% (Obama's booming economy! /sarc)

    06/21/2011 8:42:26 AM PDT · by tobyhill · 61 replies
    cnn ^ | 6/21/2011 | Ben Rooney
    Sales of existing homes fell in May, as severe weather and high gas prices weighed on the shaky housing market. Home sales fell 3.8% to a seasonally adjusted annual rate of 4.81 million, down from a revised rate of 5 million in April, the National Association of Realtors said Tuesday. Sales were more than 15% lower than in May 2010. Economists had expected a May sales rate of 4.79 million existing homes, according to consensus estimates from Briefing.com. "Spiking gasoline prices along with widespread severe weather hurt house shopping in April, leading to soft figures for actual closings in May,"...