A National Association of Realtors report showed yesterday that sales of previously owned U.S. homes unexpectedly dropped for a fourth month to the weakest in more than two years, signaling higher prices and tight supplies continue to squeeze demand, Bloomberg News reported. Prospective home buyers are increasingly discouraged by rising borrowing costs and property-price increases that are outpacing wage growth. The share of Americans who say that it’s a good time to buy a home fell in August to 63 percent, the smallest since 2008, the University of Michigan consumer sentiment survey showed on Friday.
