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Home selling

US existing home sales fall in August

US existing home sales drop 1.8 per cent in August; slowdown in investors buying homes
Josh Boak, The Associated Press

WASHINGTON - Fewer Americans bought homes in August, as investors retreated from real estate and first-time buyers remained scarce.

Sales of existing homes fell 1.8 per cent to a seasonally adjusted annual rate of 5.05 million, the National Association of Realtors said Monday. That snaps a four-month streak of gains. August sales are down from a July rate of 5.14 million, a figure that was revised slightly downward.

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