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IRVINE, CA—Sales to institutional investors—entities that purchase at least 10 properties in a calendar year—accounted for 4.3% of all sales of single-family homes and condos in the third quarter of the year, representing the lowest level since the fourth quarter of 2010, according to a report from RealtyTrac. The figure is down from 5% in the previous quarter and down from 5.3% a year ago, the firm reports.

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