Existing home sales saw a decline of 0.7% in August, reaching a seasonally adjusted annual rate of 4.04 million, marking a 15.3% drop from the previous year.
The dip in home sales comes as median existing-home sales prices climbed 3.9% from a year ago to $407,100, marking the third consecutive month when median sales price broke the $400,000 level, according to data issued by the National Association of Realtors on Thursday.
