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US realty industry shows little sign of recovery

Posted on 19 September 2011

Purchases of previously owned US homes in Aug-ust probably held close to the weakest level this year and construction dropped to a three-month low as the industry showed few signs of emerging from its slump, economists said before reports this week.

Existing-home sales rose 1.7 per cent to a 4.75 million annual rate from an eight-month low in July, according to the median projection of 59 economists surveyed by Bloomberg News before a National Association of Realtors report on Wednesday. Housing starts dropped 2.3 per cent, economists forecast Commerce Department data is likely to show on Tuesday……………………………………….Full Article: Source


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