Existing Home Sales Rise from Record Low

Sales of existing home rose in August from record low in July, the National Association of Realtors said Thursday.

But the month’s level was the second lowest on record, NAR said, as sales rose to a 4.13 million annual pace from July’s 3.84 million.

The August level was in line with economists’ forecasts, Bloomberg reported.

An $8.800 home-purchase tax credit that expired at the end of April helped contribute to higher sales earlier this year, Bloomberg said.