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Market Update : 
Home Depot Sells Supply Unit for $8.5 B
Author: Elena Todorova
123jump.com
Last Update: 11:36 AM EDT August 27 2007


U.S. stock averages moved further to the downside amid concerns about the economic growth, sparked by signs of growing weakness in the housing sector. National Association of Realtors said that inventories of unsold single-family homes climbed 2.2% to 3.85 million in July, sending the inventory in relation to sales to the highest level in 16 years. Existing home sales fell 0.2% to an annual rate of 5.75 million units in July compared with 5.76 million units in June.

 

 

 

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