Home Sales, Price Appreciation Slow

U.S. home sales and price appreciation slowed in the third quarter from the previous three months, when a record number of buyers sought to buy houses to capture lower mortgage rates, a National Assn. of Realtors report found.

Sales of existing homes and condominiums fell 1.8% from the second quarter to an annualized pace of 7.66 million units. Prices rose 7.7% from a year earlier, slowing from the previous quarter’s 8.9%, the fastest pace in 24 years. The median home price in the third quarter was $188,500, the group said.