Housing Slides Into Recession, Falls 6% in July
- Sales of previously owned homes fell nearly 6% in July compared with June, according to a monthly report from the National Association of Realtors.
- Sales dropped about 20% from the same month a year ago.
- “In terms of economic impact we are surely in a housing recession because builders are not building,” said Lawrence Yun, chief economist for the Realtors.
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