Home sales up 7.6 pct. in August; sales still weak

WASHINGTON (AP) — Sales of previously occupied homes rose last month, but not enough to keep August from being the second-worst month for sales in more than a decade.

The National Association of Realtors says sales rose 7.6 percent in August to a seasonally adjusted annual rate of 4.13 million. Sales were down 19 percent from the same month a year earlier.

July was the worst month for sales in 15 years. That was changed by the slightly upward revision to a pace of 3.84 million. High unemployment, falling home prices and a tight credit have kept people from buying homes. The industry received a boost this spring when the government offered home-buying tax credits, but has struggled since those expired in April.

The median sale price was $178,600, up 0.8 percent from a year ago.

Published by Seth Jacobs

Mortgage Broker, Disc Golfer and First Person Shooter Fan living in Vacationland.

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