Vital Signs: Housing Slump Seen Stretching into 2008

On tap: November home sales and durable goods, October home prices, and December consumer confidence

About this time last year, there was cautious optimism among home builders, economists and investors that the housing market was stabilizing. Turns out, it was just a short pause before a fresh and far steeper downturn. That's why nobody is getting excited about the uptick in October new home sales, a yearlong decline in new home inventories, and the massive pullback in new home construction.

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