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Home Sales Fall Further

Posted by: Arnab Chakraborty

26 September 2006 - 12:00pm

Recent data released by the National Association of Realtors shows existing home prices falling for the fifth consecutive month in August.

"The weakness in existing home sales followed a report last week that construction of new homes and apartments plunged by 6 percent in August, pushing building activity to the lowest level since early 2003."

"The housing sector, which had enjoyed five boom years of record sales, has been slowing sharply this year under the impact of rising mortgage rates and a slowing economy."

Full Story: Existing Home Sales Fall for 5th Month
Source: The Washington Post, September 25, 2006
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