US home sales fell in August as inventories plummet

September 22, 2016 2:32 PM

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Americans retreated from home-buying in August, as a worsening inventory shortage appears to be hurting sales and pushing prices higher.

Sales of existing homes slipped 0.9 percent last month to a seasonally adjusted annual rate of 5.33 million, the second straight monthly decline, the National Association of Realtors said Thursday. The monthly setbacks happened after a period of steady gains that have lifted home sales up 3 percent ...

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