Though existing home sales reached a record high in August, experts predict a considerable drop over the next two quarters as the country enters into a recessionary period and consumer uncertainty rises, sparked by the Sept. 11 terrorist attacks.

According to the National Association of Realtors, August figures show that existing-home sales went up by 5.8% to a seasonally annual rate of 5.50 million units from an upwardly adjusted level of 5.20 million in July. This year's numbers stayed at 5% more than the 5.24-million unit pace in August 2000. Before that, the record high was an annual rate of 5.45 million units in June 1999.

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