The National Association of Realtors (NAR) said existing home sales fell 16.7 percent ot an annual rate of 5.45 million units in December.
For the entire year, sales rose 4.9 percent in 2009 to 5.156 million units, while prices fell from 2008 by 12.4 percent, “probably the largest annual drop since the Great Depression” said NAR chief economist Lawrence Yun.
Sales sunk in all four regions of the country: Northeast sales dropped 10.5 percent; Midwest sales fell 25.8 percent; sales in the South fell 16.3 percent; and sales in the West slid 4.8 percent.
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