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Existing-home sales dropped 3.2% in July to an annual rate of 5.39 million units, with the median price rising 5.3% from a year ago to $244,100.
Is this the time to get contrarian? Housing starts grew respectably in July, but the rate is slowing, says Ralph McLaughlin, chief economist at real-estate listing site Trulia.com.
The online real estate leader's latest earnings report shows good momentum for a number of businesses. But markets wanted more.