Why Aren't Homes Selling?
Paul Bishop, VP of Research at the National Association of Realtors, on why closings have fallen for the second month in a row.
U.S. new-home sales unexpectedly fell in January, setting a record low and erasing all gains made in the market during the past year as the economy recovers from recession.
Demand for single-family homes fell 11.2% from the previous month to a seasonally adjusted annual rate of 309,000, the Commerce Department said Wednesday.
Economists surveyed by Dow Jones Newswires had estimated sales would rise 3.8%, to 355,000.
Hessam Nadji of Marcus & Millichap discusses which cities present the best opportunities for apartment buyers and investors.