February 9, 2012

Home resales drop to lowest in 12 years

Home resales drop to lowest in 12 years

Feb. 25: January home sales fell 5.3 percent, with notable drops seen in the Northeast, Midwest and West. CNBC's Diana Olick reports. (MSNBC)Sales of existing homes took an unexpected plunge from December to January, falling to the lowest level in nearly 12 years as pessimism about the economy grew.