March 23, 2011
Home Sales Plummet
By Brandon Butler
February single-family home sales across the country declined 19 percent below the January totals, according to the U.S. Census Bureau.
Home sales were off about 28 percent compared to February 2010. The one caveat is that the sales figures for last month are being compared, on a year-over-year basis, to when the federal first-time-homebuyer tax credit was in effect.
In the Northeast, single-family home sales were off by 57 percent on the year, and were down by half compared to January 2011.
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