CNBC's Diana Olick joins 'Squawk on the Street' with the latest home sale data to cross the tape.

Existing home sales in August remained largely unchanged, with a 0.2% decrease from July, which was less than the 1.5% drop anticipated by analysts. The seasonally adjusted annualized rate stood at 4 million units, with sales strongest in the Midwest and weakest in the Northeast. The data reflects closings from deals signed in June and July, when mortgage rates were higher. 

Supply of homes for sale declined by 1.3% from July but remained up 11.7% year-over-year. The median home price rose to $422,600, a 2% increase from the previous year, continuing a 26-month streak of annual price gains. Homes are taking longer to sell, and first-time buyers remain a small share of the market, while all-cash transactions have increased.

Existing home sales for August -0.2% vs. -1.5% estimated

You guys, you mentioned housing. There's an interesting wrinkle in existing today. Let's get to Diana Holick. Hey, Diana. Hey, Carl. I guess the wrinkle is that the AP has broken the embargo for 10 o'clock. So we'll just go ahead with the numbers right now. Existing home sales were essentially flat in August at a seasonally adjusted annualized rate of 4 million units. That's down 0.2 percent from July, up 1.8 percent from August of last year. Now, the street was looking for a slightly bigger drop of 1.5 percent. Sales were strongest in the Midwest, weakest in the Northeast. Now, this count is based on closing. So it's people signing their deals in June and July. And that's when mortgage rates were about 50 basis points higher than they are today. Supply is the new story in this month's report. It is suddenly dropping down 1.3 percent from July after a big run up earlier this year. Still up 11.7 percent year over year. But that turn is going to be interesting. We had seen this run up earlier, but it is now pulling back as sellers come off the market. It is now a 4.6 month supply of homes for sale. That's considered lean, though. And that's keeping prices in the positive. The median price of a home sold in August, 422,600 dollars, still up 2 percent year over year and the 26th consecutive month of annual price gains. Homes are now staying on the market longer, 31 days up from 26 last year. First time buyers still very low at 28 percent and all cash still king at 28 percent of sales up from 26 percent a year ago. So, guys, we give it to you early. That's some value added there, Diana. Jim was mentioning bonds at the top of the hour, 10 years almost back to 4.2. I mean, would you expect that to get reflected in 30 year fix soon? Yeah, I mean, look, they don't follow exactly. There are other things that go into mortgage rates, but we're now down at around 6.37 percent. It hasn't moved much since the Fed cut its rates. That's when it came to a three year low the day before. As soon as the Fed cut, it shot back up in two days up 25 basis points. Since then, it's been like one to two basis points change. So the market is clearly waiting for some other economic indicator to tell it what to do in mortgage rates, especially. Coming off of that big surprise on new homes yesterday, Diana. Yeah, but those are based on August signed contracts, remember? So it's apples and oranges.

The widow of one of the 60 passengers aboard the American Airlines regional jet involved in the deadly midair collision near D.C. in January has filed a wrongful death lawsuit against American Airlines, the FAA and the U.S. Army.

Washington

D.C. midair collision victim's family sues airline, FAA and Army

Former French president Nicolas Sarkozy was found not guilty of receiving illegal campaign financing from late Libyan dictator Muammar Gaddafi for his successful 2007 presidential bid, but was pronounced guilty of criminal conspiracy in the same case.

Paris

France ex-President Sarkozy convicted of criminal conspiracy

China led several countries in announcing new climate plans on Wednesday and offered a veiled rebuke of the U.S. president's anti-climate rhetoric a day earlier at the U.N. General Assembly.

Beijing

China sets new emissions goals after Trump rejects climate change

World leaders have launched an initiative, “Democracy Now,” on the sidelines of the UNGA to counter far-right extremism and defend multilateralism. As the UN faces skepticism, a new initiative by Brazil, Spain, Chile, Uruguay, and Colombia is gaining support among member states.

New York

Leaders at the U.N. push reforms to counter authoritarian rise

U.S. Secretary of State Marco Rubio met Russian Foreign Minister Sergei Lavrov on the sidelines of the U.N. General Assembly. The meeting came a day after President Trump appeared to soften his language on the Ukraine war, raising questions about U.S. policy direction.

Manhattan

Ukraine Invasion

Rubio meets Russia's Lavrov after Trump shifts tone on Ukraine war

The family of one of the 67 people killed earlier this year when an American Airlines plane and a  U.S. Army helicopter collided over Washington, D.C., filed a lawsuit against the government and the airline.

Widow of D.C. plane crash victim sues American Airlines, federal gov.

The new Paramount+ documentary "Bodyguard of Lies" highlights the efforts across four presidential administrations to conceal the challenges the U.S. faced during the Afghanistan

New documentary uncovers gov. deception during Afghanistan War

In his address to the U.N. General Assembly, Ukrainian President Volodymyr Zelenskyy warned that Russia wants to expand the war beyond Ukraine.

Putin wants to expand war beyond Ukraine, Zelenskyy warns U.N.

The Trump administration is rehiring hundreds of federal employees who were laid off during cuts made by the Department of Government Efficiency, or DOGE. CBS News' Olivia Rinaldi has more details.

Trump administration rehires hundreds laid off during DOGE cuts

Former French President Nicolas Sarkozy faces up to 10 years in prison if a Paris court convicts him of secretly using funds from the Libyan government of late dictator Moammar Gadhafi to finance his presidential campaign in 2007.

Ex-French President Sarkozy awaits verdict in trial

An international aid flotilla trying to deliver aid to Gaza said on Wednesday (September 24) it was attacked overnight by drones in international waters off Greece, prompting Italy to send a navy ship to come to its assistance.

Middle East Conflict

Italy sends navy ship to help Gaza aid flotilla after drone attack

At least three people were shot at a Dallas Immigration and Customs Enforcement facility on Wednesday morning, officials said. One victim was killed, while two others are injured. The shooter died of a self-inflicted gunshot wound.

Dallas

Three people shot at ICE facility in Dallas, officials say

The U.S. has long argued China should give up the developing-country status because it is the world’s second-largest economy.

China gives up WTO developing-country status as tariff tensions linger

U.S. President Donald Trump reversed his stance on the Ukraine war after meeting President Volodymyr Zelensky at the UN General Assembly, now expressing confidence that Ukraine can reclaim all its territory.

Trump reverses stance on Ukraine after meeting with Zelenskyy

After a six-day suspension, late-night host Jimmy Kimmel broke down in tears during his return to TV with a monologue focused on the importance of the maintaining the right to free speech while still poking fun at the Trump administration.

Los Angeles

Jimmy Kimmel makes emotional return with monologue about free speech

Typhoon Ragasa, the world's most powerful tropical cyclone this year, struck the southern Chinese city of Yangjiang on Wednesday after lashing Taiwan and Hong Kong with ferocious winds and heavy rains.

Yangjiang

Typhoon Ragasa lashes Hong Kong, Taiwan, southern China

Mainland China is bracing for Super Typhoon Ragasa, after the powerful storm caused widespread destruction across the region. In Taiwan, at least 14 people have died in flooding triggered by the cyclone.

Kowloon

Typhoon Ragasa sweeping towards China, 14 killed in Taiwan

A jury has convicted Ryan Routh of attempting to assassinate U.S. President Donald Trump on his Florida golf course last year. He was found guilty of all five charges, which included attempted assassination of a major presidential candidate and assaulting a federal officer.

West Palm Beach

Ryan Routh found guilty of trying to assassinate Trump

U.S. President Donald Trump on Tuesday (September 23) spoke with reporters while meeting with Ukrainian President Volodymyr Zelenskyy at the United Nations General Assembly in New York City.

Trump takes questions during meeting with Zelenskyy

Chipmaker Nvidia said it would invest up to $100 billion in OpenAI, the developer of ChatGPT, as part of a strategic partnership. CBS MoneyWatch correspondent Kelly O'Grady has more details.

Santa Clara

Rise of AI

Nvidia to invest up to $100 billion in OpenAI

For the first time in more than half a century, astronauts will soon be heading back to the moon. CBC's Nicole Mortillaro breaks down the preparations for the mission, Artemis II, which will send astronauts on a historic loop around the moon.

Houston

NASA prepares to send astronauts around the moon

U.S. President Donald Trump addressed the United Nations General Assembly in New York City, where he pushed back on countries that have formally recognized a Palestinian state. Trump also touted U.S. immigration policy.

Trump delivers address at U.N. General Assembly

Southern China and Hong Kong are bracing for Super Typhoon Ragasa as authorities evacuate hundreds of thousands of people. CBS News' Anna Coren has more details.

Hong Kong Island

Super Typhoon Ragasa targets Southern China, Hong Kong

Russian President Vladimir Putin offered to voluntarily maintain the limits on deployed strategic nuclear weapons set in the 2010 New START accord after it expires in February if the U.S. agreed to do the same.

Moscow

Putin offers Trump one-year extension to nuclear weapons treaty

President Trump announced Monday the FDA believes pregnant women should not take acetaminophen, the active ingredient in Tylenol, claiming there could be a link between the medication and autism, despite objections from medical experts.

Trump, FDA tell pregnant women not to take Tylenol

ABC announced Monday that "Jimmy Kimmel Live!" will return to the air Tuesday night (September 23). The network pulled the show last week following a remark from Kimmel about the death of Charlie Kirk.

Jimmy Kimmel returning to air

As leaders from around the globe come together at the United Nations General Assembly in New York this week, conflicts in Gaza and Ukraine continue to rage.

World leaders come together at UNGA as global tensions rise

Monday marks the second day of strike action after a similar walk-off was called on Sunday by the southern European country's largest trade union, the Italian Confederation of Labour (CGIL).

Rome

Thousands strike across Italy in solidarity with Palestinians in Gaza

The Trump administration is adding $100,000 to the existing fee for H-1B visa applications, taking aim at a program that is used to attract highly skilled workers to the U.S.

Trump administration to add $100,000 fee for H-1B visas

President Donald Trump urged Attorney General Pam Bondi in a social media post to move forward with cases against several people connected to the U.S. government. CBS News justice correspondent Scott MacFarlane has more.

Breakdown