U.S. home resales up in June

WASHINGTON — U.S. sales of existing homes, namely completed transactions that consist of single-family homes, townhouses, condominiums, and co-ops, grew by 2.6% in June to an annual rate of 5.04 million units from May’s rate of 4.91 million units, according to the National Association of Realtors. That marks the third consecutive month of increases, although June’s rate was still 2.3% below the 5.16 million-unit level of a year ago. A combination of low interest rates and a moderately improved employment rate are considered factors in the increase.