Sales of previously occupied U.S. homes fell for the third month in a row in August, as higher mortgage rates, rising prices and a dearth of properties on the market shut out many would-be homebuyers.
Existing home sales fell 0.7% last month from July to a seasonally adjusted annual rate of 4.04 million, the National Association of Realtors said Thursday.
Sales slumped 15.3% compared with the same month last year.
The national median sales price rose 3.9% from August last year to $407,100.
