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US Pending Home Sales Slump in August

By Tony Seruga

Washington (AP) — Fewer Americans signed contracts to buy homes in August, as a shortage of properties for sale is weighing on the market.

The National Association of Realtors said Thursday its seasonally adjusted pending home sales index fell 2.4 percent last month to 108.5, its lowest reading since January. The number of signed contracts slumped sharply in the South, the nation’s largest housing market. But pending sales improved in the Northeast, Midwest and West…

US Pending Home Sales Slump in August

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