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Analysts: Home sales going nowhere fast 

Aug 23, 2011By

Analysts reacted to the July new home sales decline Tuesday with dread, saying the housing market has years of stalled recovery ahead. The Commerce Department reported the seasonally adjusted rate of new home sales in July declined 6.8% from one year ago, coming in below analyst expectations. Sales slumped back below the 300,000 market and sit not too far from the low of 278,000 units in August 2010.

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