Existing Home Sales Fall 3.5% in July

Existing home sales declined 3.5% in July the lowest level since November, the National Association of Realtors said Thursday.

The drop to an annual rate of 4.67 million homes fell short of economists’ forecasts of a rise to a 4.9 million rate, Bloomberg reported.

NAR revised its June rate up to 4.84 million, from a previously reported 4.77 million.