Home sales in US slow in October to fresh 13-year low

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Washington (AFP) – Sales of existing homes in the United States slipped more than anticipated in October to a new 13-year low, according to industry data released Tuesday, on stubbornly low inventory and high mortgage rates. Existing home sales fell last month by 4.1 percent to an annual rate of 3.79 million, seasonally adjusted, said the National Association of Realtors (NAR). The rate was slowest since August 2010, NAR chief economist Lawrence Yun told reporters in a briefing, and compared with a year ago, sales were down 14.6 percent. “Prospective home buyers experienced another difficult m…

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