Home Sales Fall Further
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."
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Published on Monday, September 25, 2006 in
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