Sales of existing homes fell in February for a third month, indicating a lack of jobs is hindering government efforts to revive demand.

Purchases dropped 0.6%, to a 5.02 million annual rate, the lowest level in eight months and in line with the median forecast of economists surveyed by Bloomberg News, figures released Tuesday by the National Association of Realtors showed. The median price fell 1.8% from February 2009.

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