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Existing home sales in September fell 1.5% from August to a rate of 4.71 million units, slightly better than expected, marking the eighth straight month of declines. Higher mortgage rates and limited inventory are to blame, with 1.25 million homes for sale at the end of September, a 3.2 month supply. Median price of existing homes rose to $384,800 in September, up 8.4% year over year. Prices are starting to cool off month to month, but bidding wars and homes selling above list price are still common due to low inventory.