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Home Sales Hit New Low

Pending U.S. home sales fell to the lowest level on record in November, the National Association of Realtors said Tuesday. The index tracks signed contracts to purchase existing homes. Typically, there is a one- to two-month lag between a contract and a done deal. So November's decline foreshadows bleak results for December's existing-home sales numbers, set to be released Jan. 26. ...more

January 7, 2009

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