Existing Home Sales Fall in August

Washington, DC, Sept. 22, 2014 --  Home resales fell in August for the first decline in five months, according to the National Association of Realtors.

Sales declined 1.8% in August to a seasonally adjusted annual rate of 5.05 million.

NAR said the drop was due primarily to fewer all-cash sales to investors.

Economists expected the sales rate to increase to 5.2 million in August from an originally reported 5.15 million in July.