Existing-Home Sales in U.S. Unexpectedly Fell 0.8% in June

Existing-Home Sales in U.S. Unexpectedly Fell 0.8% in June

Jacob Kepler/Bloomberg

Rows of houses stand in Las Vegas, Nevada, U.S. Stricter lending rules, unemployment above 9 percent and delays in processing foreclosures mean it may take years to reduce the number of distressed properties on the market.