WASHINGTON - U.S. sales of existing homes fell in October to their lowest level in almost two years, an industry survey showed.

Resales unexpectedly fell 6.6% last month, to an annual rate of 4.79 million, the National Association of Realtors said. That was the first time the rate has been below 5 million since October 1998. The drop is the fourth in a row and takes the rate of homes sold to its slowest since it was 4.59 million in January 1998.

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