US home sales fall in September as median sales price increases to $404,500

The US housing market has seen a decline, with homes reaching a 14-year low. The National Association of Realtors reported a 1% decrease in contract closings from August. Additionally, the number of homes on the market has increased by 23% compared to the previous year. Many prospective home buyers are holding off on purchases, anticipating a drop in mortgage rates.

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