The U.S. housing market could be facing a two- to three-year downturn, with the supply of unsold homes creeping up to 4.2 million, a record. The national median home price is poised for its first decline since the Great Depression, and confidence among U.S. home builders dipped this month to its lowest level since February 1991, reports SIFMA’s SmartBrief.

This entry was posted on Wednesday, June 27th, 2007 at 5:07 am and is filed under Investing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.