Mumbai, July 24 -- A report released by the National Association of Realtors on Wednesday showed existing home sales in the U.S. pulled back by more than expected in the month of June.
NAR said existing home sales slumped by 2.7 percent to an annual rate of 3.93 million in June after jumping by 1.0 percent to a revised rate of 4.04 million in May.
With the bigger than expected decrease, existing home sales fell to their lowest annual rate since hitting 3.90 million last September.
The decline by existing home sales partly reflected a steep drop in the Northeast, where existing home sales plunged by 8.0 percent.
Existing home sales in the Midwest and South also tumbled by 4.0 percent and 2.2 percent, respectively, while existing home sal...