Home Sales Sink Eight Percent: Sales of Existing Homes at Lowest Pace on Record and Prices Drop more than Four Percent

NEW YORK (CNNMoney.com) -- Existing home sales sank 8 percentlast month, to the lowest pace on record, according to the latest reading on the state of the battered real estate market released Wednesday.
Sales of existing homes slowed to an annual pace of 5.04 million in September, compared with a revised 5.48 million sales pace in August, the National Association of Realtors said.
Last month's numbers mark the slowest annual pace