Existing Home Sales Decline in October
Washington, DC, Nov. 20, 2013 -- House resales fell 3.2% in October to a seasonally adjusted annual rate of 5.12 million, according to the National Association of Realtors.
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The figure represented aa second month of declines, as rising mortgage rates and prices cut affordability. Nevertheless, it was up 6% from a year ago.
October's rate was the slowest pace in four months. NAR said the government shutdown also delayed some transactions in October.
The median sales price of used homes hit $199,500 in October, up 12.8% from the year-earlier period.