Friday, January 20, 2012

Existing Home Sales Hit 11-Month High in December

While Paul Krugman was declaring a depression, sales of previously owned homes rose to an 11-month high in December and the supply of properties on the market dropped to a near 7-year low.

The man has no clue, yet he disses the Austrian theory that provides a strong guide to the developing economy.

The National Association of Realtors said existing home sales increased 5 percent month over month to an annual rate of 4.61 million units. This is the third straight month of gains.

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