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Tuesday, July 25, 2006

Sales of existing homes fall in June

By MARTIN CRUTSINGER, AP Economics Writer 58 minutes ago

WASHINGTON - Sales of existing homes fell in June for the eighth time in the past 10 months while home prices edged up at the slowest pace in more than a decade — more signs that the housing market has slowed dramatically.

The National Association of Realtors reported Tuesday that sales of previously owned homes and condominiums dropped 1.3 percent in June to a seasonally adjusted annual rate of 6.62 million units.


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