U.S. home resales edge up in June

Sales of existing U.S. homes rose by 1.4 percent in June on a month-to-month basis, says the (U.S.) National Association of Realtors. The seasonally adjusted annual rate of closings for the month was 5.86 million units. It was the first increase after four months of declines. “We may have turned a corner on inventory,” said Lawrence Yun, the association’s chief economist. “There is some softening in the demand.”