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Sales for previously owned homes in the US fall for third month

Published on Dec 19, 2013 11:56 PM

WASHINGTON (AFP) - US existing-home sales fell for the third consecutive month in November as the housing market recovery slows, an industry group reported Thursday.

Sales of previously owned homes dropped 4.3 per cent to an annual rate of 4.90 million units in November from 5.12 million in October, the National Association of Realtors said.

Year-over-year, sales were 1.2 per cent lower than the pace of 4.96 million in November 2012.

It was the first time in 29 months that sales of existing homes, the majority of the US housing market, were below the year-ago level, the NAR said.

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