U.S. home resales edge down

Sales of existing U.S. homes took a 0.4 percent dip in August to an annualized rate of 4.8 million units, according to the National Association of Realtors. It was the seventh consecutive monthly decline, but less steep than the rate of 4.7 million units projected by economists in a Reuters poll. Sales were flat in the South, while increases in the Northeast and West were offset by declines in the Midwest.