| Existing Home Sales Increase 7.7% in August |
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August showed the highest sales level seen in the last five months, which was more than realtors expected. Buyers were drawn into the still sluggish market due to low rates and low home prices. Due to the high level or foreclosures and short sales, prices are still weakening making home prices very affordable. According to the National Association of Realtors, August sales increased 7.7% over July. (Reuters, NAR) |

