Home-sales pace rises in August

Homes in the U.S. sold at the fastest clip in more than a year last month, new data show, a testament to the strength of the housing recovery this year.

The median time a home was listed for sale was 69 days in July, a 29.6 percent plunge from the same month just a year ago, according to data from the National Association of Realtors.

— Staff and wire reports