Existing U.S. Home Sales Decline as Supply Drops
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Sales of previously owned U.S. homes decreased in September from the highest level in two years, restrained by a lack of supply that may keep pushing prices up.
Purchases fell 1.7 percent to a 4.75 million annual rate, matching the median forecast of economists surveyed by Bloomberg, figures from the National Association of Realtors showed today in Washington. The median price from a year earlier jumped by the most since 2005 as inventories dwindled.