Contracts to buy US homes fall for 5th month

Published November 25, 2013 4:03pm ET



WASHINGTON (AP) — The number of Americans who signed contracts to buy homes fell in October for the fifth straight month. Higher mortgage rates, price increases and the 16-day partial government shutdown held back sales.

The National Association of Realtors said Monday that its seasonally adjusted pending home sales index dipped 0.6 percent to 102.1. That’s the lowest level since December. September’s reading was revised slightly higher to 102.7.

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