Housing market has a tough month
March 9, 2004,
NEW YORK — Raising some concern that the nation's vibrant housing market, a major driver of the U.S. economy, may be a bubble waiting to burst, all three gauges of housing activity tumbled in January.
Existing home sales, by far the largest slice of the housing pie, fell by 5.2 percent to a seasonally adjusted level of 6 million units, its lowest level since last June, the National Association of Realtors reported.
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