Home sales plunge 27 percent to lowest in 15 years
WASHINGTON (AP) -- Sales of previously occupied homes plunged last month to the lowest level in 15 years, despite the lowest mortgage rates in decades and bargain prices in many areas.
July's sales fell by more than 27 percent to a seasonally adjusted annual rate of 3.83 million, the National Association of Realtors said today. It was the largest monthly drop on records dating back to 1968, and sharp declines were recorded in all regions of the country.
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