Sales of Existing U.S. Homes Fell in May to 4.55 Million
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Sales of previously owned U.S. homes declined in May, showing an uneven recovery in residential real estate.
Purchases of existing properties dropped 1.5 percent to a 4.55 million annual rate last month, figures from the National Association of Realtors showed today in Washington. The median forecast of economists surveyed by Bloomberg News called for a 4.57 million pace.