Activity in home sales in America… and high prices exclude this category

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I jumped US home sales to an eight-month high in September, but rising prices due to persistent shortfalls kept first-time buyers away from the housing market.

The National Association of Realtors said Thursday that existing home sales rose 7 percent, the largest increase in one year, to a revised annual pace of 6.29 million units last month, the highest level since January.

Economists polled by Reuters had expected sales to rise to 6.09 million units. Sales rose in all four regions.

Home resales, which account for the bulk of US home sales, fell 2.3% on an annual basis.

Average current home prices rose 13.3 percent from a year ago to $352,800 in September, the lowest rise this year.





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