"Sales of existing homes slowed more than expected in June while inventory increased, according to an industry trade group reading of the sluggish housing market released Thursday.
The National Association of Realtors reported that sales by homeowners dipped in June to an annual pace of 4.86 million, down 2.6% from a pace of 4.99 million in May.
The existing home sales rate - including single-family, townhomes, condominiums and co-ops - is down 15.5% from the 5.75 million units sold in June 2007."
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Existing home sales fall 2.6% in June
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