Total existing-home sales dipped 1.9% to an adjusted annual rate of 6.18 million units in September from 6.3 million in August and were 14.2% below the 7.2 million in September 2005.

Total housing inventory levels fell 2.4 percent at the end of September to 3.75 million existing homes available for sale, which represents a 7.3-month supply at the current sales pace.

Source: National Association of Realtors