Economics
U.K. Housing Gauge Signals First Price Drop in a Year
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A U.K. housing-market gauge signaled the first decline in prices for a year in July as demand for homes fell, a sign the economic recovery may be losing steam.
The number of real-estate agents and surveyors saying prices fell exceeded those reporting gains by 8 percentage points, compared with a positive reading of 8 in June, the London-based Royal Institution of Chartered Surveyors said in an e-mailed report today. A third more real-estate agents reported an increase rather than a drop in properties for sale.