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Home Sales Declines in December

The sales of newly built homes have come down by nearly 15 percent in December, 2008. According to the Commerce Department, the seasonally-adjusted annual rate of home sales remains 331,000 units for the month, which is 15 percent less than the figure of the previous month.

Compared to the statistics of December, 2007, a decline of about 45 percent has been recorded in the sales of newly built homes in December, 2008.

As the economic downturn continues, the housing market seems to have a struggling phase in the days to come.

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