Existing Home Sales Fell 2.7% In August

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After increasing in each of the four previous months, existing home sales unexpectedly fell in August, according to a report released by the National Association of Realtors on Thursday, although sales remained up compared to the same month a year ago.

The report showed that existing home sales fell 2.7 percent to an annual rate of 5.10 million units in August from a 5.24 million unit rate in July. The decrease came as a surprise to economists, who had expected existing home sales to increase to a 5.35 million unit rate.

After increasing in each of the four previous months, existing home sales unexpectedly fell in August, according to a report released by the National Association of Realtors on Thursday, although sales remained up compared to the same month a year ago. (Market News Provided by RTTNews)