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U.S. September existing home sales exceeded expectations, with home prices reaching a new September record high.
According to data from the National Association of Realtors (NAR), existing home sales in the US rose by 1.5% month-over-month to a seasonally adjusted annual rate of 3.99 million units in September, exceeding market expectations of 3.95 million units. The median home price increased by 1.3% year-over-year to $417,500, setting a new record high for September. Housing inventory reached 1.6 million units, the highest level since November 2019.
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