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US Home Prices Plunge; Sales Rise


A business group says sales of previously-occupied homes in the United States rose almost three percent in April.

The National Association of Realtors also says home prices were down more than 15 percent from the same period a year ago.

Buyers also took advantage of a glut of foreclosed homes and low mortgage interest rates.

The rate on a home loan repayable over 30 years fell to the lowest level (4.78 percent) in decades.

Some information for this report was provided by AP and Reuters.

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