Existing home sales fall to 6-month low

Existing home sales dropped nearly 4% from last year to the lowest rate since last November. And there's a reason you feel a little poorer this month if you're a homeowner; your home lost about 5% of its value from this time last year. Yes, but it's better than expected: Economists polled by Reuters had expected sales to drop 5.9 percent to a 4.80 million-unit pace from the previously reported 5.05 million-unit rate. When a 4% decrese in sales is "better than expected" you know the economy is in real trouble. (Read Full Post)