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Existing home sales decline in October

A limited supply of available properties has made for a slow and steady recovery in residential real estate

Published Mon, Nov 23, 2015 · 09:50 PM
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Washington

SALES of previously owned US homes retreated in October from the second highest level since 2007 as lean inventory limited momentum in residential real estate.

Closings, which usually take place a month or two after a contract is signed, dropped 3.4 per cent to a 5.36 million annual rate, the National Association of Realtors reported on Monday. Prices increased compared with October 2014 as the number of dwellings on the market decreased.

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