Real estate sales climb from record low

Supply of for-sale existing homes rises 26% in past year

The rate of existing-home sales climbed 7.6 percent in August from a record low in July, to 4.13 million. Despite the monthly gain, the August sales rate was the second lowest in at least 15 years, the National Association of Realtors reported, down 19 percent from its August 2009 level.

The median price for resale homes — including single-family homes, townhomes, condos and co-ops — rose 0.8 percent year-over-year in August, to $178,600, NAR also reported.