FXstreet.com (Barcelona) - Sales of previously owned homes has decreased larger than expected in the United States in September, with family homes selling at the lowest pace of the last ten years, according to the latest report by the National Association of Realtors.

In September, home resales have declined 8.0% to an annual rate of 5.04 millions of houses sold, this figure follows a downwardly revised 5.48 million annual rate in August, it was previously estimated 5.5 million.

The decline has been sharper than expected, as market analysts had advanced a milder 4.5% decline to an annual rate of 5.25 million homes sold.

The average home price has also declined, to $211,700 in September, a 4.2% lower than the $220,900 average price posted in September, andlower than the $224,400 average price of August 2006.