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Sept existing home sales -3.4% to 5.15......>

US DATA
US DATA: Sept existing home sales -3.4% to 5.15 mln saar (-4.1% y/y), below
expectations for 5.27m. This followed a downward revised 5.33m pace in August. 
- The third quarter average was below the second quarter average. 
- Sales were -3.4% for single-family homes and -3.4% for condos. Sales were flat
in the Midwest, but were down in the Northeast (-2.9%), the South (-5.4% on a
small hurricane effect), and the West (-3.6%).
- The supply of homes -1.6% to 1.88m, but +1.1% y/y. The months supply rose to
4.4 months from 4.3 months in August, above the 4.2 months supply a year ago.
The median sales price fell in Sept to $258,100, but +4.2% from a year earlier,
well outpacing the pace of wage growth. 
- NAR's Yun noted that this is the lowest level of existing home sales since
November 2015, pointing to decade's high mortgage rates and unaffordable home
prices. 

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