US house prices growth slows

05.09.2006

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US house prices continued to grow in the second quarter but it was at the slowest rate in thirty years, said the Office of Federal Housing Enterprise Oversight .

The latest figures from federal regulators provided further evidence that the US housing market is cooling.

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House prices were up only 1.17% in the second quarter compared to 3.65% in the same period last year, the biggest fall in price since OFHEO started keeping records in 1975.

The agency said the possible slowdown in price growth could be due to higher interest rates and rising inventories of homes for sale.

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US house prices growth slows

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