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For the second consecutive month, pending home sales fell slightly in October, dipping by 1.1% according to the National Association of Realtors by 1.1%. The drop points to a growing affordability problem for home buyers, who may be witnessing rising home prices, said  Lawrence Yun, NAR’s chief economist. 

“The housing market is still hot, but we may be starting to see rising home prices hurting affordability,” he said.

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