Existing Home Sales Rise in August

Washington, DC, Sept. 19, 2013 -- Existing-home sales rose 1.7% in August to a seasonally adjusted annual rate of 5.48 million, according to the National Association of Realtors.

It was the highest level in more than six years.

Economists expected an August rate of 5.2 million, down from 5.39 million in July.

NAR said the median price of a home was $212,100 in August, up 14.7% from a year ago.