US Home sales slump

  • Sales of existing homes fell 7.1 percent last month
  • Home-buying fell sharply in the Northeast and Midwest last month, while slipping less severely in the South and West.
  • Inventory is particularly low for starter homes, keeping first-time buyers out of the market, according to a separate report released Monday by the real estate firm Trulia.

US HOME SALES SLUMP IN FEBRUARY; SUPPLY SHORTAGE HITS MARKET

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