A fall of 0.5 percent in existing home sales from September was originally projected, but analysts were surprised with a 1.5 percent increase instead.
Zillow Real Estate Research concluded that the drop of rates below 4 percent for the first time since summer 2013 appears to have had a larger-than-expected impact on sales. Despite strength in most of the country, Zillow found that sales dropped sharply in the West.
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