By Keith Griffith | realtor.com
Sales of previously owned homes declined slightly in August as the resale market capped off a summer of weak activity.
Existing-homes sales, which account for the vast majority of residential real estate transactions, fell 0.2% last month from July to a seasonally adjusted annual rate of 4 million, the National Association of Realtors reported on Thursday.
The August figure was up 1.8% from a year earlier, but matched the slowest sales annual rate since 1995, continuing to put the home resale market on track for one of its worst years for sales in three decades, unless activity picks up this fall.
