Aug existing home sales unch at 5.34 mln....>

US DATA: Aug existing home sales unch at 5.34 mln saar (-1.5% y/y), slightly

below expectations for 5.36m. This followed no revision to the pace in July. 

- The third quarter sales pace to this point is below the second quarter average

of 5.41m.

- Sales were unch for both single-family homes and condos. Sales rose in the NE

(+7.6%) and MW (+2.4%), but declined in the South (-0.4%) and West (-5.9%).

- The supply of homes unch at 1.92m, +2.7% y/y, the first year/year gain in over

two years. The months supply stayed at 4.3 months, but was up from 4.1 months

supply a year ago. 

- The median sales price fell in Aug to $264,800, but was +4.6% from a year

earlier, still outpacing the pace of wage growth. 

- NAR's Yun noted that while prices continue to rise briskly year/year, recent

months have shown some welcomed moderation in those gains. He said that realtors

have noted demand for homes seems to be there once supply increases further. The

NAR will monitor hurricane impacts over the next few months.