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US existing home Feb sales fall more than expected from 10-year high

Fall comes amid a shortage of homes in market that is pushing up prices, sidelining buyers

Reuters  |  Washington 

UShomeresalesfellmorethanexpectedinFebruaryamidapersistentshortageofhousesonthemarketthatispushinguppricesandsideliningpotentialbuyers. TheNationalAssociationofRealtorssaidonWednesdayexistinghomesalesdeclined3.7percenttoaseasonallyadjustedannualrateof5.48millionunitslastmonth. January'ssalespacewasunrevisedat5.69millionunits,whichwasthehighestlevelsinceFebruary2007.EconomistspolledbyReutershadforecastsalesdecreasing2.0percenttoapaceof5.57millionunitslastmonth. "Realtorsare ...

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First Published: Wed, March 22 2017. 23:26 IST
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