Existing home sales drop eighth month

Existing home sales across the U.S. dropped for the eighth consecutive month in October.  Medium home prices also fell with a record drop according to the National Association of Realtors.

According to the report, the sale of existing single-family homes and condos dropped 1.2 percent compared to last month’s seasonally adjusted rate.  The median price of homes sold last month was down to $207,800, a 5.1 percent drop from the median price a year ago.

You can read more about existing home sales declining at MSNBC.