U.S. Home Sales Fall In 38 States

Sales of existing homes in U.S. fell in 38 states during the summer. Sales retreated to a seasonally adjusted annual rate of 6.27 million units nationwide, down by 12.7 % from the same period a year ago. Nevada, Arizona, Florida and California led the declines. Housing construction slid sharply as builders tried to curb swelling inventories of unsold new and existing homes.