Existing Home Sales Fall to Seven-Month Low

Existing home sales fell 0.8% in June to a seven-month low, the National Association of Realtors said Wednesday.

The drop to an annual rate of 4.77 million homes fell short of economists’ forecasts of 4.9 million, Bloomberg reported.

The median price of existing homes rose 0.8% from a year ago, to $184,300.

Sales fell in two of four national regions, with a 5.2% drop in the Northeast and a 1.7% decline in the West.