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Pending U.S. home sales decline 1.2pct as lower prices fail to stoke demand

Posted on 30 September 2011

Ryan SweetThe number of contracts to purchase previously owned U.S. homes fell in August, a sign that lower prices and borrowing costs are doing little to stoke demand.
The 1.2 percent decrease in the index of pending home sales followed a 1.3 percent drop the previous month, the National Association of Realtors said today in Washington. Economists forecast a 2 percent drop, according to the median of 43 estimates in a Bloomberg News survey……………………………………….Full Article: Source

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