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Real estate giant predicts slow home sales for months to come
Real estate giant predicts slow home sales for months to come

Sluggish home sales took a bite out of the stock price of one the nation’s biggest real estate brokerages. Shares in Realogy Holdings Corp., which owns major brokerage firms Coldwell Banker, Century 21 and Sotheby’s, tumbled more than 8% on Monday after the New Jersey firm said it expect the slow housing market to continue. The company, which represented about 1.4 million buyers and sellers of real estate last year, said it expects deals at its two largest units to fall 5% to 7% in the second quarter, compared with the same quarter last year. In the first quarter, deals fell 2%. Although prices -- and thus commissions -- are up, the slowdown in sales nationally,...

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