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Home sales hit slowest pace in 18 years.

By Amanda Terkel on December 23, 2008 at 11:50 am

"Home sales hit slowest pace in 18 years."


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According to the National Association of Realtors, “Sales of existing homes plunged 8.6% in November to a seasonally adjusted annual rate of 4.49 million, from a revised 4.91 million rate in October. … It was the slowest pace in nearly 18 years.” The Commerce Department also reported that sales of new single-family homes also fell in November, to the weakest levels since 1991.”

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