Existing home sales hit 5.33 million units in August, vs. expectations of 5.45 million

September 22, 2016 2:10 PM

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Existing home sales hit 5.33 million units in August, vs. expectations of 5.45 million

U.S. home resales unexpectedly fell in August, crimped by a shortage of inventory that is boosting home prices faster than the pace of wage growth.

The National Association of Realtors said on Thursday existing home sales declined 0.9 percent to an annual rate of 5.33 million units.

Also read: GM, Ford sales up; FCA down 14.3% in November

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