No ‘gloom or doom’ expected in area [Pensacola Florida]
The national housing boom may be grinding to a halt, but a collapse in sales and prices is not a serious threat to Pensacola Bay Area market, according to some local Realtors.
In the last week, the Commerce Department reported that January sales of new single-family homes fell 5 percent — the fourth decline in seven months — and the backlog of unsold new homes hit a record. And the National Association of Realtors said used home sales slipped 2.8 percent in January, the fourth straight drop and 5 percent below January 2005.