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US existing home sales down 3.4% in September

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Dion Global

22 Oct 2018

The National Association of Realtors (NAR) said existing home sales in the US plunged by 3.4 per cent to an annual rate of 5.15 million in September after edging down by 0.2 per cent to a revised rate of 5.33 million in August.

"A decade's high mortgage rates are preventing consumers from making quick decisions on home purchases," said NAR chief economist Lawrence Yun. "All the while, affordable home listings remain low, continuing to spur underperforming sales activity across the country."