Bloomberg

Pace of Existing Home Sales Slows in August 

Throwing a bit of cold water on the suggestion of some economists who had recently floated comments that an early recovery in the nation’s housing markets might yet be in the offing, the National Association of Realtors said Wednesday that existing home sales fell 2.2 percent in August on a seasonally-adjusted basis. Home sales were 10.7 percent below year-ago levels, at a 4.91 million unit pace, the trade group said.