US housing market slow

New figures released yesterday by the National Association of Realtors show that the US housing market is struggling for recovery.

The Pending Home Sales Index fell 1.1 per cent for contracts signed last month, a greater decline than had been expected. This follows a few months of growth.

Other recent stats have also been disappointing; new home sales and housing permit applications were both down in the latest figures, although resales were at an eight month high.

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