Pending Home Sales Fall in September

Washington, DC, Oct. 28, 2013 -- Pending-home sales fell 5.6% in September to hit the lowest level since December, according to the National Association of Realtors.

Pending sales were down across the country in September, due mostly to higher home prices and higher mortgage interest rates.

September is the month in more than two years that pending sales weren't higher than year-earlier levels.

However, NAR expects this year's sales of existing homes to be up 10% from last year.