"Sales of existing homes fell in October and prices continued to decline as potential buyers remain sidelined by the weak economy, according to a real estate group's report issued Monday.
The National Association of Realtors reported that sales by homeowners slid in October to an annual pace of 4.98 million. That was down 3.1% from September's revised reading of 5.14 million.
Economists surveyed by Briefing.com were expecting sales to have declined to an annual rate of 5.05 million in October."
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Existing home sales down more than expected in October
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