U.S. existing home sales fall, price appreciation slows

An existing single family home which is up for sale is pictured in BurbankWASHINGTON (Reuters) – U.S. home resales fell in September and prices rose at their slowest pace in five months, the latest signs higher mortgage rates were taking some edge off the housing market recovery. The National Association of Realtors said on Monday home sales fell 1.9 percent to an annual rate of 5.29 million units. August's sales pace was revised down to 5.39 million units from the previously reported 5.48 million units. Economists polled by Reuters had expected home resales to fall 2.9 percent to a 5.30 million-unit rate. …



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