Existing-Home Sales Flounder in August

Existing-home sales floundered in August, posting higher than one year prior but lower than in July, the National Association of REALTORS® (NAR) reports.
Existing-home sales totaled 5.35 million, a 1.7 percent decrease from July but a 0.2 percent increase from one year prior. Inventory decreased 2.1 percent to 1.88 million, 6.5 percent below one year prior.
“Steady employment gains, slowly rising incomes and lower mortgage rates generated sustained buyer interest all summer long, but u