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Existing Home Sales Fall 2.2%

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11/23/2010 10:00:00 AM

Existing home sales dropped 2.2% in October, the National Association of Realtors said Tuesday.

The decrease to an annual rate of 4.43 million, from 4.53 million in September, was bigger than economists estimates of a decline to a 4.48 million rate, Bloomberg reported.

The median price of existing homes fell 0.9% from a year ago, and existing home sales were down 28% from a year ago before seasonal adjustments, Bloomberg said.

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