22.09.2014 16:09:04
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U.S. Existing Home Sales Show Unexpected Drop In August
(RTTNews) - After reporting four consecutive monthly increases, the National Association of Realtors released a report on Monday showing an unexpected drop in U.S. existing home sales in the month of August.
NAR said existing home sales fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million in August from a downwardly revised 5.14 million in July.
The drop came as a surprise to economists, who had expected existing home sales to climb to an annual rate of 5.18 million from the 5.15 million originally reported for the previous month.