Existing home sales began to fall again in December after briefly bumping upwards in October and November. Home resales were at a 4.89 million annual rate; that's down 2.2% from November and down 13% from last year. "Home sales remain weak despite improved affordability conditions in many parts of the country," an economist tells the Wall Street Journal.
The resale rate, released today by the National Association of Realtors, was below what had been expected, the Journal reports. Sales fell by the most—4.6%—in the Northeast region of the US, according to the NAR report. Median prices also fell, from $221,600 in December 2006 to $208,400.