Existing-home sales slide in August

Following two straight months of gains, existing-home sales declined in August. The National Association of Realtors (NAR) reported that total existing-home sales fell 2% to a seasonally adjusted rate of 5.88 million in August compared to the prior month. Sales include completed transactions of single-family homes, condos, townhomes, and co-ops. Year-over-year, sales dipped 1.5% from a year ago and a rate of 5.97 million in August 2020.