Existing Home Sales Fall in October

Existing homes sales fell 3.1% in October, while the median price of a home fell 11.3% from the same month last year, the biggest jump on record, the National Association of Realtors said Monday.

Home sales fell to an annual rate of 4.98 million homes, while the median price fell to $183,300 from a year earlier, NAR said.

Economists had forecast home resales would fall to an annual rate of 5 million, Bloomberg reported.