Lower prices boost sales of existing homes
This is from a recent article in the Washington Times
Bargain hunters took advantage of falling home prices in July, boosting sales of existing homes, especially in the West, where foreclosures soared and home prices plunged in the past year.
But worsening prospects for mortgage giants Fannie Mae and Freddie Mac are pushing interest rates higher and could drive buyers away at a crucial point in the nation's housing cycle, analysts say. See the article from the Washington Times