Existing Home Sales Decline in June, Up Over 2011

Washington, DC, July 19, 2012 -- Home resales in June fell 5.4%, according to the National Association of Realtors.

NAR said June sales were at a seasonally-adjusted annual rate of 4.37 million, compared to an upwardly revised 4.62 million from 4.55 million in May.

Economists had anticipated a 4.65 million annual rate.

Year-over-year, sales rose 4.5%, the 12th straight year-on-year gain.

Inventories declined 3.2% to 2.39 million units.

Median prices rose 7.9% from year-ago levels to $189,400 due to the mix of homes being sold.