U.S. Home Sales Cool

Existing U.S. home sales fell two per cent to a seasonally adjusted 5.88 million units in August month-over-month, says the National Association of Realtors (NAR). Also, results exceeded analyst expectations of a 1.7 per cent decline. "The housing sector is settling down," says Lawrence Yun, chief economist at the NAR. However, home sales are up 16 per cent year-over-year and up 12 per cent from the same period in 2019.