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COPYRIGHT 2006 Asia Pulse Pty Ltd
BEIJING, Sept 29 Asia Pulse - Although the cooling U.S. real estate market is likely to slow the nation's economy, it will only have a minimal negative effect on China, say economists.
The once-resilient U.S. housing market has shown signs of cooling off in recent months, raising concerns about a slowdown in the world's biggest economy.
Existing home sales in the United States slipped 0.5 per cent to an annual rate of 6.30 million units in August, down from 6.33 million in July. The figure is down 12.6 per cent year-on-year, according to statistics released by the U.S. National Association of Realtors.
The median existing home price was US$225,000 in August, down 1.7 per cent from a year earlier the first price fall since 1995 and the second...
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