Existing-home sales dip for second month in a row

Existing-home sales have declined for the second consecutive month, thanks to continued inventory woes and lack of access to affordable housing. The National Association of Realtors’ (NAR) existing-home sales dipped 1.3 percent to a seasonally adjusted annual rate (SAAR) of 5.44 million in July -- down from 5.51 million in June. This month’s sales pace is 2.1 percentage points above July 2016 and is the lowest SAAR sales pace of ...