Existing home sales decreased 2.7% in August to a seasonally adjusted 5.10 million-unit rate, the National Association of Realtors announced yesterday.

The sales decline to 5.10 million contrasted to the rise to a 5.35-million-unit pace predicted by Thomson Reuters’ poll of economists and followed an unrevised 7.2% increase to 5.24 million units in July.

On a year-over-year basis, sales overall were up 3.4% from a 4.93 million unit sales pace last August.

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