Sales of existing homes dipped in October.

The National Assn. of Realtors said the October sales rate was only 0.3% lower than the 3.77-million rate hit in September, which had been the highest sales pace since October, 1979. Homes were sold at an annual rate of 3.76 million units in October, the second-highest level in seven years, the real estate trade group reported. The median price of an existing home rose $300 to stand at $79,700 in October, but this was still well below the August level of $82,000.