Home sales end 4-month rise in August

Inventory shrinks while sales fall 2.7% from July to August

Sales of existing homes fell 2.7 percent from July to August, ending a run of four consecutive months of increases, but the inventory of homes for sale continued to shrink, the National Association of Realtors said today.

Existing-homes, including single-family, townhomes, condos and co-ops, changed hands at a seasonally adjusted annual rate of 5.10 million units in August, off the pace of 5.24 million in July but up 3.4 percent from a year ago.