Contracts to buy homes slide in August

(RECAP: Fewer Americans signed contracts to buy homes in August, suggesting that real estate sales will remain sluggish over the next few months. The National Association of Realtors said Monday that its seasonally adjusted pending home sales index fell 1% over the past month to 104.7. The Realtors project that 4.94 million existing homes will be sold this year, down 3% from 5.09 million in 2013. Analysts generally associate sales of roughly 5.5 million existing homes with a healthy market.)