Rome

Housing market crashes in March

Down 20.9% on annual basis

Housing market crashes in March

Rome, May 17 - The Italian housing market crashed in March in a fresh sign of the woes of an economy in its longest recession on record. The market fell 20.9% on an annual basis and 4.1% on March, national statistics agency Istat said. It fell 7.2% in the first quarter over the last quarter of 2012 and 12.1% on the first quarter of 2012. Italian GDP has shrunk for seven straight quarters.

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