Low mortgage rates bolster August's existing-home sales to 17-month high

Existing-home sales inched forward 1.3% in August from the prior month, reaching a 17-month high, according to the National Association of Realtors. Total existing-home sales completed transactions that include single-family homes, townhomes, condominiums and co-ops increased to a seasonally adjusted annualized rate of 5.49 million, a gain of 2.6% above August 2018’s rate.

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