By Greg Robb
WASHINGTON (MarketWatch) - One month after suffering the largest percentage decline on record, sales of existing single-family homes and condos rebounded 7.6% in August to a seasonally adjusted annual rate of 4.13 million, the National Association of Realtors reported Thursday. Resales plunged a revised 27% in July to a record low 3.84 million unit pace, compared with the initial estimate of a 27.2% plunge to 3.83 million units. Economists surveyed by MarketWatch expected sales to rebound to a 4.10 million unit pace in August. Resales have sunk 19.0% in the past year. The inventory of unsold homes on the market fell 0.6% to 3.98 million, an 11.6 month supply at the current sales pace. The median sales prices fell 0.8% in the past year to $178,600.
