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WASHINGTON, DC-According to the National Association ofRealtors, the sales of homes that were previously occupied willshow a decrease of 26% in July compared to that in June. CampbellSurveys reported that more than 39% of July home sales were byfirst-time buyers, a decrease of 9% from that of March.

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Key reasons for this plunge in home sales are overestimation ofhome values by sellers, unemployment, the expiry of the federal taxcredit and a feeble economic recovery. For the full story,go to San Deigo.com.


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