US existing-home sales drop 1.9 pct. in September

Published October 21, 2013 2:32pm ET



WASHINGTON (AP) — Americans bought fewer existing homes in September than the previous month, held back by higher mortgage rates and rising prices.

The National Association of Realtors said Monday that sales of re-sold homes fell 1.9 percent last month to a seasonally adjusted annual rate of 5.29 million. That’s down from a pace of 5.39 million in August, which was revised lower.

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