Existing home sales plummet 27 percent in July, hit 15-year low

Reuters:

The National Association of Realtors said sales dropped a record 27.2 percent from June to an annual rate of 3.83 million units, the lowest level since May 1995. June’s sales pace was revised down to a 5.26 million-unit pace.

Analysts were expecting housing sales to fall only 12 percent.

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