From AOL:
There’s no way to sugarcoat it: Existing home sales plunged 27.2% in July to a 3.83-million-unit annual rate — far worse than expected — the National Association of Realtors announced Tuesday.
Home resales are now at the lowest level since the NAR started tracking them in 1999.
A Bloonberg survey had expected July existing home sales to fall to 4.65 million from June’s 5.26 million annual rate, which itself was revised down from the previously released 5.37 million. Home resales reached a 5.66 million annual rate in May…
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