Existing home sales in the U.S. dropped 1.8% in August

Market news

22 September 2014

Existing home sales in the U.S. dropped 1.8% in August

The National Association of Realtors (NAR) released U.S. existing home sales today. Existing home sales fell 1.8% to a seasonally adjusted 5.05 million units in August from 5.14 million units in July. July's figure was revised down from 5.15 million units.

Analysts had expected existing home sales to increase to 5.21 million units.

That was the first decline in five months.

NAR's chief economist Lawrence Yun said that the decline was largely driven by fewer investor purchases.

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