Pending Home Sales Decline in August
Washington, DC, Sept. 26, 2013 -- Pending home sales fell 1.6% in August, according to the National Association of Realtors.
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Higher interest rates and prices were blamed for the drop.
NAR's chief economist Lawrence Yun said he expects lower sales of existing homes but a tighter supply should move prices higher.
Pending home sales in August were up 5.8% from last year.