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Existing Home Sales Edge Down, Inventory Flat

5 years ago5 views

wochit

Wochit

U.S. home resales fell in October due to an inventory shortage and high property prices that have dampened buying power and are expected to drag on the housing market recovery. The National Association of Realtors said on Wednesday that sales of previously owned homes fell 3.2 percent last month to an annual rate of 5.12 million units. At the same time, the median price rose 12.8 percent in October from a year ago to $199,500.

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