U.S. existing home sales fell slightly more than expected in August, and house price growth slowed

$iShares US Home Construction ETF(ITB.US)$ The US August sales of existing homes fell slightly more than expected because supply is still tight, but there are signs that demand driven by the sharp rise in housing prices and the new crown pandemic may have peaked. Existing home sales fell 2.0% in August, and the annual rate was 5.88 million after seasonal adjustments. Sales in all four major regions declined, with the densely populated southern region falling by 3.0%. Analysts interviewed by Reuters previously predicted that existing home sales in August are expected to fall to 5.89 million

Article excerpted from Reuters Financial Morning Post