Existing-Home Sales Decline in August

Existing-home sales posted an unexpected 2.7% decline in August, to a 5.1 million-unit annual rate, the first reversal after four months of gains, the National Association of Realtors reported on Sept. 24. Economists polled by Thomson Reuters (TRI) had expected a gain of 2.1% and an annual rate of 5.35 million, up from 5.24 million in July.

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