U.S. home resales fall more than expected in June

WASHINGTON — Sales of existing U.S. homes declined by 1.7% in June to a seasonally adjusted annual rate of 5.27 million units, according to the National Association of Realtors. In a Reuters poll, economists on average saw sales edging down just 0.2% to a rate of 5.33 million units. The median price rose 4.3% from a year ago to an all-time high of $285,700, pushed up by a shortage of properties. Compared to June 2018, sales were down 2.2%, the 16th consecutive year-on-year decline.