FXstreet.com (Barcelona) - Existing home sales declined by 1.2% to the annual rate of 4.97 million houses in October following the 8.2% decline registered in September, according to the information by the National Association of Realtors.

Market expectations were a smaller decline by 0.8% in sales implying an annual rate of 5.00 million houses in October. September's results were downwardly revised from the 8.0% decline which meant an annual rate of 5.04 million houses sold in the month.

The median home price declined by 5.1% to the level of $207,800 from the $218,900 registered in October 2006 .