(MENAFN) Pending home sales in the US fell last month, recording the fifth consecutive monthly drop, Xinhua reported.
A US industry group said that the fall in pending home sales dropped due to the 16-day government shutdown.
The index which measures the number of contracts signed but not closed fell to 102.1 last month, representing a 0.6 percent drop from the month before and a 1.7 percent drop from October 2012, The National Association of Realtors (NAR) said.
NAR chief economist said: "We could rebound a bit from this level, but still face the headwinds of limited inventory and falling affordability conditions."
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