U.S. home sales dip 1.7 percent on tight inventory
WASHINGTON – U.S. sales of previously occupied homes fell in September after hitting a two-year high in August, in part because there were fewer homes available for sale.
The National Association of Realtors said Friday that sales dipped 1.7 percent to a seasonally adjusted annual rate of 4.75 million. That's down from a rate of 4.83 million in August, which was the highest in more than two years.
Sales are still up 11 percent from a year earlier. They remain below the more than 5.5 million that economists consider consistent with a healthy market.
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