Lawrence Yun

Existing Home Sales Continue Freefall 

Sales of previously-owned U.S. homes fell to a 10-year low in June, according to data released Thursday by the National Association of Realtors. Existing-home sales — which include single-family, townhomes, condominiums and co-ops — fell 2.6 percent to a seasonally-adjusted annual rate of 4.86 million units in June from a pace of 4.99 million in May, and are 15.5 percent lower than the 5.75 million-unit rate recorded one year earlier.