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September 23, 2014

Existing home sales fall 1.8% in August

  • Much of the decline came from an exodus of investors.
    • By JOSH BOAK
    AP Economics Writer

    WASHINGTON — Fewer Americans bought homes in August, as investors retreated from real estate and first-time buyers remained scarce.

    Sales of existing homes fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million, the National Association of Realtors said Monday. That snaps a four-month streak of gains. August sales are down from a July rate of 5.14 million, a figure that was revised slightly downward.


     
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