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U.S. housing rut to continue, economists say

Posted on 19 September 2011

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

Existing-home sales rose 1.7 percent 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 Sept. 21. Housing starts dropped 2.3 percent, economists forecast Commerce Department data will show a day earlier……………………………………….Full Article: Source


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