24 Jul 2010

Home sales fall for second month

2:46 pm on 24 July 2010

Figures show sales of existing homes fell for the second successive month, down 5% in June compared to the previous month.

The National Association of Realtors Home says sales closed at an annual equivalent rate of 5.37 million.

The Association says it's still 10% higher than the recession lows of a year ago, but well below the seven million or more at the height of the boom.

Meanwhile, the stock of unsold homes rose by 2.5% to nearly four million.