- June closings fell to 3.89 million rate, below all estimates
- Prices hit another record even as supply continued to rise
Existing-home sales in the US slumped to one of the slowest paces since 2010 in June, as sellers wait for mortgage rates to fall further and buyers balk at stubbornly high prices.
Contract closings decreased 5.4% from May to a 3.89 million annualized rate, data released Tuesday from the National Association of Realtors show. That marked the fourth straight decline and the rate trailed all estimates in Bloomberg survey of economists.
The slowdown came as prices reached another record in June, with the m