US existing home sales fall for second month in August

US existing home sales fell 0.9% in August  from a month earlier to a seasonally adjusted annual rate of 5.33 million, the National Association of Realtors said Thursday. 

US existing home sales eased up in August for the second consecutive month despite mortgage rates near record lows as higher home prices and not enough inventory for sale kept some would-be buyers at bay, according to the National Association of Realtors®.

The reading came in below market expectations of a rate of 5.45 million in August.