Existing-Home Sales in U.S. Unexpectedly Fall 0.8% to a 4.77 Million Rate

July 21, 2011

Sales of previously owned U.S. homes unexpectedly declined in June to a seven-month low as the industry struggled to overcome rising unemployment and foreclosures. Purchases dropped 0.8% to a 4.77 million pace, data from the National Association of Realtors showed Wednesday in Washington.