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Home » Discuss » Topic Forums » Economy

Eugene

(1000+ posts) Send PM | Profile | Ignore

Wed Oct-24-07 01:21 PM
Original message

Sharp decline in US housing sales

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Source: BBC News

Last Updated: Wednesday, 24 October 2007, 15:01 GMT 16:01 UK

Sharp decline in US housing sales

Sales of existing US homes fell 8% to 5.04 million in
September, the biggest year-on-year decline for 16
years, said the National Association of Realtors.

It is the latest sign of a downturn in the US housing
market which economists fear could lead to a recession.

The fall was worse than market predictions of a decline
to 5.25 million sales.

The average sales price also fell in September, dropping
4.2% from a year earlier to $211,700 (£103,000).

-snip-

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