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Report: Existing-home sales drop 2.6 percent last month
Sales of existing homes fell 2.6 percent last month and brought the supply of unsold houses to its second highest level in 24 years, according to a National Association of Realtors report Thursday.
Sharp drop in home sales in Chicago
The Illinois Association of Realtors is blaming low consumer confidence and a troubled economy for a nearly 28 percent decrease in home sales in the Chicago metropolitan area for June.
The slump persists: Home sales tumble across US
Sales of existing homes tumbled more sharply than expected in June, pushing activity down to the lowest level in more than a decade. Wall Street surged higher last week, but that's cold comfort to people whose stock portfolios are still down more than 10 percent this year. I have no reason to feel unsafe in my neighborhood, but I appear to be surrounded by dozens of people convicted of everything from theft and sex crimes to public drunkenness and speeding.
AP News Calendar
Major scheduled events during the week beginning July 20, 2008. Note that many events, especially court appearances, are subject to change at the last minute.
Many likely to remain priced out of housing market
Doug Gylfe still can't afford to buy a home in Torrance, Calif., despite a 23 percent drop in prices. And Congress isn't helping.
Pending home sales fall 4.7 percent
A measurement of pending home sales fell to the third-lowest reading on record in May as the housing market's recovery continued to prove elusive. Homebuilder Lennar Corp. said Thursday it managed to narrow its second-quarter loss, but CEO Stuart Miller gave a dour outlook for the industry, saying the housing market has yet to hit bottom and ruling out the prospects of a recovery this year. |
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