Home Sales Dip 2.7 Percent In August After Four Months Of Gains

PASADENA, CA - SEPTEMBER 24: A "for sale" sign stands outside an existing home on September 24, 2009 in Pasadena, California. Although home resale numbers have been gaining over the past four months, an unexpected decline occurred last month with sales dropping 2.7 percent to a seasonally adjusted annual rate of 5.1 million in August. July sales were 5.24 million. Still, the numbers were up 3.4 percent from a year earlier. Almost one in three homes last month were purchased by first-time home buyers who will get an $8,000 tax credit if the transaction is completed by November 30 when the credit expires. (Photo by David McNew/Getty Images)