U.S. home sales hit 12-month low, Harvey weighs on Houston

U.S. home resales fell to their lowest in a year in August as Hurricane Harvey depressed activity in Houston and a persistent shortage of properties on the market sidelined buyers. The third straightly monthly decline in sales reported by the National Association of Realtors on Wednesday came on the heels of data on Tuesday showing a drop in homebuilding activity in August. The reports suggest housing will probably weigh on economic growth again in the third quarter.

Source: Reuters

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