Home sales, prices sluggish in September

The National Association of Realtors Monday reported that sales and prices of existing homes were down in September, rising at their slowest pace in five months.

According to a Reuters article, the NAR attributes higher mortgage interest rates and home prices, coupled with stagnant wages, for the 1.9 percent drop. The figures for August sales also were revised down.

The group blamed higher borrowing costs for slowing the housing market recovery, which analysts predict will continue to slow through the rest of 2013.

Full story from Reuters.