Sales, prices, builder confidence slide

Real estate brief

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

With third-quarter home sales and prices off considerably from a year ago and builder sentiment flatlining, industry groups hope Congress will pass legislation quickly to stem the tide.

According to the National Association of Realtors, four out of five metropolitan areas recorded lower home prices in the third quarter from a year earlier, while sales of existing homes fell in 32 states from the second quarter.