Existing home sales rise but prices see record drop (Reuters)

A bent over sign advertising a home for sale is shown in Daly City, California December 31, 2008. (Robert Galbraith/Reuters)Reuters – The pace of sales of existing homes in the U.S. rose 6.5 percent in December, but the median home price dropped by a record 15.3 percent compared to the same period the year earlier, a National Association of Realtors report showed on Monday.

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