Real estate sales continue rise in August

CHARTS: National median price drops 5.1%

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After a double-digit, year-over-year jump in sales in July, existing-home sales continued to post increases in August, according to the latest monthly report from the National Association of Realtors.

Sales of existing single-family, townhomes, condominiums and co-ops in August rose 18.6 percent from a year ago to a seasonally adjusted annual rate of 5.03 million. Sales also rose on a monthly basis, up 7.7 percent from an upwardly revised 4.67 million in July. Unsold inventory fell 3 percent in August to 3.58 million — an 8.5-month supply