Buyer's market emerges in New York

Sales of existing single-family homes in New York fell by double digits between July 2005 and July 2006, while home-price growth slowed to a more normal pace, according to preliminary single-family sales data accumulated by the New York State Association of Realtors.

There were 9,392 sales recorded statewide in July, a decrease of 11.3 percent from the 10,681 homes sold in July 2005, according to the preliminary data.

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