U.S. Existing Home Sales Retreat 1.8% in August

In August, existing home sales declined by 1.8% to a 5.05 million annual pace, marking the first drop in five months. July's figures were revised to 5.14 million, a 10-month high. The National Association of Realtors attributes the decline to investors retreating due to potential interest rate hikes by the Federal Reserve. Despite the sales drop, the median home price rose by 4.8% compared to last year. The stock market showed slight fluctuations but remained relatively stable.

What was the annual pace of existing home sales in August?

• 6.0 million

• 5.14 million

• 5.05 million

• 4.8 million

What was the main reason cited for the decline in home sales?

• Decrease in housing demand

• Increase in home prices

• Economic recession

• Investors retreating due to interest rate signals

Who provided the explanation for the market retreat?

• A leading real estate agent

• A financial analyst

• NAR chief economist Lawrence Yun

• Federal Reserve Chair

By what percentage did the median price of existing homes rise compared to last year?

• 4.8%

• 3.5%

• 6.0%

• 5.2%

How did the stock market react to the home sales report?

• It showed no change

• It rose sharply

• It remained stable with slight fluctuations

• It crashed significantly