US Home Sales Fell in June as Prices Reach New Heights

US Home Sales Fell in June as Prices Reach New Heights
A home for sale is seen in Orlando, Fla. on Dec. 8, 2020. John Raoux/AP Photo
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Sales of previously occupied U.S. homes slowed for the fifth consecutive month in June as higher mortgage rates and rising prices kept many home hunters on the sidelines.

Existing home sales fell 5.4 percent last month from May to a seasonally adjusted annual rate of 5.12 million, the National Association of Realtors said Wednesday.