East Coast real estate slowdown escalates

The real estate slowdown along the East Coast continued in August, as markets in Virginia and Massachusetts endured plummeting sales and sinking prices, according to Realtor associations in both states.

In Virginia, August home sales fell for the 12th consecutive month, as prices dipped from a year ago, the Virginia Association of Realtors reported.

Statewide, closed sales were off 24 percent for August compared to a year ago.

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