U.S. home resales fall further in July

Sales of existing U.S. homes declined 5.9 percent in July, according to the (U.S.) National Association of Realtors. This sixth consecutive decrease left resales at an annualized pace of 4.81 million. In a Bloomberg survey, economists on average projected a rate of 4.86 million. Compared to a year earlier, sales were down 20.2 percent.