Home sales expected to cool off after hot August
September 27, 2001,
Washington — Sales of existing home sales — by far the largest component of the American housing outlook— continued strong in August, setting a new record, but are expected to slow down in months ahead as consumers take a breather, the National Association of Realtors reported.
Sales climbed by 5.8 percent in August to a seasonally adjusted annual rate of 5.5 million units, up from a revised level of 5.2 million units in July. Last month's activity was 5.0 percent above the 5.24 million pace recorded in the same month a year ago.
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