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US home sales fall 9.6 pct in February

US home sales fall 9.6 pct in February

Fewer Americans bought previously occupied homes in February, pushing the median home price down to its lowest level in nearly 9 years.
The National Association of Realtors say sales of previously occupied homes fell to a seasonally adjusted annual rate of 4.88 million. That's down 9.6 percent from 5.4 million in January. The pace is far below the 6 million homes a year that economists say represents a healthy market.
The median sales price fell 5.2 percent to $156,100, the lowest level since April 2002.
Sales of homes at risk of foreclosure rose to 39 percent of all sales in February