Friday, March 29, 2024
Homereal estateHome sales fell nearly 6% in July as housing market slides into...

Home sales fell nearly 6% in July as housing market slides into a recession

  • Sales of previously owned homes fell nearly 6% in July compared with June, according to a monthly report from the National Association of Realtors.
  • Sales dropped about 20% from the same month a year ago.
  • "In terms of economic impact we are surely in a housing recession because builders are not building," said Lawrence Yun, chief economist for the Realtors.

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