Asia Bizz: Home Sales In The US Fall Tremendously Than Expected In July
Bad new kept pouring in on the US economy, as the Home Sales in the country dipped once again and this time it went lower than it was predicted. The July home sales went crashing down due to the fear of the US economy, as it is failing to recover steadily, these might be the signs that there will be a future fall once again.
The National Association of Realtors stated that the home sales in the month of July fell by 27% and this was the worst ever recorded in the past 15 years. It was the lowest drop in a month for home sales since the Association is maintaining records.
Home sales have been dipping for the straight fourth day on Wednesday, and these are very bad signs for the US economic recovery. The Dow Jones Industrial Average went lower than 10000 and for the first time seven weeks it has lost 375 points on the index table. Slow economic recovery is causing great problems for the citizens of the country, as if this could continue, then there are very dark days ahead for the US economy.