Existing-home sales slipped 0.5 per cent to an annual rate of 6.30m units in August from a level of 6.33m July, according to the National Association of Realtors. They were 12.6 per cent down on the year before
Economists had expected a fall in sales to 6.2m, following a sharp 4.1 per cent decline in sales in July. “The housing market continues to weaken, but the deterioration in this report was relatively modest,” said John Ryding, economist at Bear Stearns.
via: Financial Times
