Existing Home Sales Fall for Second Month

Sales of existing home fell for a second straight month in June, the National Association of Realtors said Thursday.

Sales fell 5.1% to an annual rate of 5.37 million units, the group said in its monthly report. Sales had declined 2.2% in May.

A home-purchase tax credit that expired at the end of April helped contribute to the decline, Bloomberg reported.

The decline was better than economists’ forecasts of a decline to 5.1 million annual rate, Bloomberg said.