According to the National Association of Relators (NAR), existing home sales increased in the month August, despite natioinwide issues with tight credit and appraisal problems, along with regional disruptions created by Hurricane Irene, as monthly gains were seen in all regions. Total existing-home sales, defined by NAR as completed transactions including single-family, townhomes, condominiums and co-ops, rose 7.7 percent to a seasonally adjusted annual rate of 5.03 million in August from an upwardly revised 4.67 million in July, and are 18.6 percent higher than the 4.24 million unit lClick to continue
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