Post and Courier
October 20, 2014

US existing home sales fall 3.2 pct. in October

Posted: 11/20/2013 10:13 a.m.

By PAUL WISEMAN

Associated press

WASHINGTON -- Fewer Americans bought existing homes in October, as higher mortgage rates, the 16-d

The National Association of Realtors says home re-sales fell 3.2 percent last month from September to a seasonally adjusted annual pace of 5.12 million. That’s down from a 5.29 million pace in August and the slowest since June.

Sales of existing single family homes declined 4.1 percent, while condominium sales rose 3.3 percent.

The median sales price of an existing home was $199,500 in October, up 12.8 percent from a year earlier and the 11th straight month of double-digit annual increases.

First-time home buyers accounted for just 28 percent of sales, down from 40 percent in healthier housing markets.