THE ECONOMY
From Times Staff and Wire Reports
Sales of Existing Homes Decline: Sales of existing homes fell 1.8% in August, the National Assn. of Realtors reported, a decrease it said was too slight to imply that the housing market is headed for a slowdown. August sales fell to a seasonally adjusted annual rate of 3.9 million units from a revised 3.97 million in July. Wall Street economists had expected August sales of 3.92 million. Compared with a year ago, August sales rose 1% from an annual rate of 3.86 million units. The real estate group previously reported July sales at a 3.95 million annual rate.
