A national gauge of prices rose 0.6% in October from September.
Nationally, prices surged 19.8%, the third-biggest increase in data going back 35 years.
U.S. mortgage rates fell to a record low for the 14th time this year.
Americans are showing resistance to overpaying for homes after years of price increases that have outpaced incomes.
Neighborhoods in Midtown and lower Manhattan—such as Chelsea, Greenwich Village and Soho—took the greatest hit.
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