WASHINGTON (AP) — Fewer Americans bought existing homes in October, as higher mortgage rates, the 16-day partial government shutdown and a limited supply of houses on the market reduced sales.
The National Association of Realtors reported that home re-sales fell 3.2 percent last month from September to a seasonally adjusted annual pace of 5.12 million. That’s down from a 5.29 million pace in September and the slowest since June. A healthy pace is around 5.5 million.
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