Housing: House sales plummet almost 40%

Further evidence has emerged of just how far the housing market has fallen since the peak of the last housing boom in 2007. A new survey has shown that the number of house sales has dropped by nearly 40% over the past five years and that houses are taking longer to sell. The figures, produced by the Royal Institution of Chartered Surveyors (RICS), show that in the three months to May 2012 15.6 completed sales were made per surveyor, a massive drop on the same period in 2007 at the height of the housing boom, when 25.4 sales were made. The fall in ...