US existing home sales fall in August

By Josh Boak

Published September 22, 2014 2:53pm ET

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US existing home sales fall in August — In this Thursday, May 29, 2014 photo, prospective buyer Mary Tuttle, right, checks out antique lighting fixtures while looking at a home with real estate broker Nancy Dowson, left, with Keller Williams Realty, in Miami Shores, Fla. The National Association of Realtors reports, on Monday, Sept. 22, 2014, on sales of existing homes in August. (AP Photo/Wilfredo Lee) | Wilfredo Lee

WASHINGTON (AP) — 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 percent 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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