Home Resales Fall to Lowest Since March 2004

Jan. 25 (Bloomberg) -- Sales of previously owned U.S. homes fell more than forecast last month to the lowest level since March 2004, evidence of the end of a five-year housing boom that will slow the economy.

Purchases declined 5.7 percent to a 6.6 million annual rate from November's 7 million, the National Association of Realtors said today in Washington. Sales, which have been slowing from the record monthly pace reached in June, still finished 2005 at an all-time high of 7.072 million.

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