Sales of Previously Owned U.S. Homes Fall More Than Forecast

September 21, 2015 2:32 PM

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Sales of previously owned U.S. homes fell more than forecast in August as lean inventories slowed this year’s momentum.

Closings, which usually take place a month or two after a contract is signed, declined 4.8 percent to a 5.31 million annual rate from a revised 5.58 million pace that was the strongest since 2007, the National Association of Realtors reported Monday. Prices climbed and the number of homes on the mar...

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