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October 22, 2014

Existing home sales rise 2.4% in September

  • Rising prices, weak income growth and tighter credit have priced out many would-be buyers.
    • By JOSH BOAK
    AP Economics Writer

    WASHINGTON — U.S. homes sold in September at their fastest clip this year, but the housing market has yet to fully shake off a slowdown that began in the middle of 2013.

    The National Association of Realtors said Tuesday that sales of existing homes rose 2.4 percent from the previous month to a seasonally adjusted annual rate of 5.17 million. Still, the sales rate has dropped 1.7 percent over the past 12 months.


     
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