Housing Market Slide Continues

Baltimore Sun (09/26/07); Haddad, AnnetteThe U.S. residential property market, already battered and bruised, suffered yet another setback with Tuesday's release of more bad news. The National Association of Realtors' report on August home demand showed a decline to a five-year low in sales volume and an increase to an 18-year peak in unsold inventory. A separate study from S&P/Case-Shiller, meanwhile, revealed that single-family home prices are southbound, falling at the fastest pace in more than 15 years. Finally, the New York-based Conference Board reported that consumer confidence, as measured by its monthly index, is down by nearly six points in September.