Existing Home Sales Fall 0.5% in August

September 25, 2006 10:00 AM, EDT

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xisting home sales fell 0.5% in August, declining for the first time since 1995, the National Association of Realtors said Monday.

The level declined to a 6.3 million annual rate from July’s 6.33 million rate, NAR said.

Regionally, sales fell 2.3% in the West and 0.8% in the South while rising 1.9% in the Northeast and 0.7% in the Midwest.

Existing home sales account for 85% of the residential real estate market in the United States. When a home is sold, trucks are usually used to transport household appliances and furniture.