The Robbo Report

Home Resales in U.S. Decline, Inventories Climb ·

Bloomberg: Sales of previously owned homes in the U.S. fell in April and the supply of unsold properties reached a record, signaling no let-up in the housing slump.

Purchases declined 1 percent to an annual rate of 4.89 million, higher than forecast, the National Association of Realtors said today in Washington. The median price dropped 8 percent from April last year, the second-biggest drop.

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