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U.S. home sales disappoint markets
Sales of previously owned U.S. houses unexpectedly fell in February, showing that the real-estate market is taking time to stabilize.
Purchases dropped 0.9% to a 4.59 million annual rate from a revised 4.63 million pace in January that was faster than previously estimated, a report from National Association of Realtors showed today in Washington. The median forecast in a Bloomberg News survey called for a rise to 4.61 million.
The Dow and S&P 500 drifted lower after the data came out, but losses in the Nasdaq were limited by Oracle Corp, which last night beat market expectations.
Read the full article here.
Sales of previously owned U.S. houses unexpectedly fell in February, showing that the real-estate market is taking time to stabilize.
Purchases dropped 0.9% to a 4.59 million annual rate from a revised 4.63 million pace in January that was faster than previously estimated, a report from National Association of Realtors showed today in Washington. The median forecast in a Bloomberg News survey called for a rise to 4.61 million.
The Dow and S&P 500 drifted lower after the data came out, but losses in the Nasdaq were limited by Oracle Corp, which last night beat market expectations.
Read the full article here.