Existing home sales fall again in August

[USA Today]

Existing home sales fall again in August; first year-over-year price decline in 11 years

Posted 9/25/2006 10:12 AM ET

WASHINGTON (AP) — Sales of existing homes fell for the fifth consecutive month in August as the once-booming housing market slowed further.

The National Association of Realtors reported Monday that existing home sales slipped 0.5% to a seasonally adjusted annual rate of 6.30 million units.

The slowdown in sales weighed on home prices, with the median price of an existing home sold in August dropping to $225,000, 1.7% below August 2005. It marked the first year-over-year price decline in more than 11 years.

http://www.usatoday.com/money/economy/housing/2006-09-25-existing_x.htm