US home sales slowed again in September, falling to weakest annual pace in nearly 14 years

AP Business Writer

LOS ANGELES (AP) — Sales of previously occupied U.S. homes slowed in September to the weakest annual pace in nearly 14 years even as mortgage rates eased and the supply of properties on the market continued to climb. Existing home sales fell 1% last month from August to a seasonally adjusted annual rate of 3.84 million, the National Association of Realtors said Wednesday. Sales fell 3.5% compared with September last year. The latest home sales were short of the 3.9 million pace economists were expecting, according to FactSet. Home prices increased on an annual basis for the 15th consecutive month. The national median sales price rose 3% from a year earlier to $404,500.