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September 23, 2021

Existing home sales fell in August, price growth slows

  • The competitive fervor may be easing, if only because soaring prices have left many would-be buyers discouraged.
    • By ALEX VEIGA
    AP Business Writer

    Sales of previously occupied U.S. homes fell in August and prices that have been soaring eased, the latest sign the housing market is cooling as intense competition leaves many would-be buyers on the sidelines.

    Existing homes sales fell 2% last month from July to a seasonally-adjusted annual rate of 5.88 million units, the National Association of Realtors said Wednesday. That's slightly more than the 5.87 million economists were expecting, according to FactSet.


     
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