Brazil’s housing prices falls down

Brazil's housing declined sharply in September as the country's recession continued to hurt demand for real estate, an industry research group said. The widely followed Abrainc-Fipe index showed a 25% slump in the launch of new home construction projects in September from the same month a year ago. Home sales fell by 5 percent to 9,300 units for the month, university research center Fipe and industry group Abrainc said in a joint statement. Sales cancellations, which have been weighing on homebuilders results this year, fell by 8.1 percent to 3,800 units in September.