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REAL ESTATE DECISION SUPPORT
New existing home sales measure shatters previous low record
Publish date
08/24/2010
Source
CNBC.com
Main Category
Economy - US
Article Summary
July was a dire month for the residential real estate market, reports the National Association of Realtors. Led by a 35.0% decline in the Midwest, the agency reports that existing home sales set a new monthly record low of 3.83 million, which is a decline of 27.0% from June and well below estimates by analysts polled by Reuters of a 12.0% decline. The agency also reported the median price declined from June by 0.2% to $182,600. However, this is an improvement from July 2009 of 0.7%.
