Existing-home sales fell in August when mortgage availability problems were peaking, according to the National Association of Realtors(R).
Total existing-home sales -- including single-family, townhomes, condominiums and co-ops -- were down 4.3 percent to a seasonally adjusted annual rate (1) of 5.50 million units in August from a level of 5.75 million in July, and are 12.8 percent below the 6.31 million-unit pace in August 2006.
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