Existing Home Sales Down, Even as Prices Slide
Despite falling prices, potential home buyers are staying on the sidelines due to fears about the economy. As a result, sales of existing homes fell 3.1% in October to a seasonally adjusted annual rate of 4.98 million units, the National Association of Realtors reported. The median sales price for an existing home plunged 11.3% in October from a year ago to $183,000. That was the largest year-over-year drop on records going back to 1968, and the lowest median sales price since March 2004. The NAR estimates that sales of distressed properties made up 45% of all property sales in October. There were 4.23 million unsold homes on the market in October, down nearly 1% from September. At the current sales pace, it would take 10.2 months to sell all the properties. Analysts note that until the inventory of homes comes down, the housing slump is likely to persist. The biggest problem is that inventories are being driven higher by a wave of mortgage foreclosures.
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Date Last Updated: 11/26/2008
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Charter Capital services many industries. Here are just a few of the industries
we are currently financing:
Trucking and Freight
It has never been easier for trucking companies and freight brokers to get cash
with Freight Factoring from Charter Capital. We purchase your Freight Invoices
and fund you within 24 hours, so you don't have to wait to get paid.
Staffing Firms
We can help you grow your staffing company with unlimited payroll funding ,
whether you're a start up or a multi-million dollar
temp-staffing agency. Our
clients provide staffing for various industries including Professional, Office
Services, Medical, and Manufacturing.
Security Firms
Demand for security services in the USA is on the rise. Be financially prepared
to gain your share with a FactorLine facility only from Charter Capital.
Manufacturing
If your business is a manufacturing plant, distributor,
packaging company, or
any business that invoices to credit worthy customers, then a FactorLine from
Charter Capital can accommodate the working capital funding needs of both new
manufacturing companies as well as those that have been around for years.
Technology Staffing Firms
Service providers such as technology
consulting and staffing firms are great candidates for our FactorLine accounts receivable
funding service, enabling you to increase your cash flow without the need
for bank loans. We are always adding new industries and will consider factoring
service providers in any industry.
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