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U.S. Home Sales Plunged, Price Growth at 6-Year Low, Redfin Says

  • Sales declined by 11% in December as prices rose just 1.2%
  • San Jose median price fell 7.3% in December, Boston fell 1%
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Global Housing Downturn Hits

Home sales in the U.S. slumped in December, while prices inched up slightly, marking the smallest annual increase since the end of the last housing crash in 2012, according to data from brokerage Redfin.

The median home price rose to $289,800 in December, a gain of 1.2 percent, the slowest monthly pace since March 2012. Sales dropped by almost 11 percent, the biggest decline for any month since 2016, Redfin said. Previously hot metropolitan areas are cooling fast. Prices dropped 7.3 percent in San Jose, California.