Existing Home Sales Improve in June

Existing homes sales rose for the third straight month in June, the National Association of Realtors said Thursday.

Sales rose 3.6% to an annual rate of 4.89 million homes, the highest level since October, the group said in its monthly report.

Economists had forecast home resales would rise to an annual rate of 4.84 million from a previously reported 4.77 million in May, Bloomberg reported.

Median prices for existing homes fell to $181,800, from $215,000 a year earlier, Bloomberg said.