Home Sales Fall to Lowest Level on Record

Existing homes sales fell in September to the lowest level since record keeping began in 1999, the National Association of Realtors said Wednesday.

Sales declined 8% from August to an annual rate of 5.04 million, NAR said. Sales were down 19% from a year ago.

Economists had forecast resales to fall 4.5% to an annual rate of 5.25 million, Bloomberg reported.