Texas Bankruptcy Laws

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July 25th, 2007

Existing Home Sales Drop for 4th Month

Sales of existing homes fell for a fourth straight month in June as all sections of the country showed weakness.

The National Association of Realtors reported that sales of existing homes dropped by 3.8 percent in June to a seasonally adjusted annual rate of 5.75 million units, the slowest sales pace in 4 1/2 years.

The median price of a new home edged up slightly to $230,300 in June, a small 0.1 percent increase from the sales price a year ago. That was the first year-over-year price increase in 11 months but analysts cautioned that it would take more months to determine whether the downward trend in prices has finally stabilized. Read more



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