U.S. existing home sales unexpectedly fall in August

September 22, 2016 2:06 PM

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WASHINGTON 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: U.S. Existing Home Sales Fell in April

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