Home sales fall to 2011 low

Home sales fall to 2011 low

Fewer people bought previously occupied homes in May, lowering sales to their weakest point of the year.

Home sales sank 3.8 percent last month to a seasonally adjusted annual rate of 4.81 million homes, the National Association of Realtors said Tuesday. That’s far below the roughly 6 million annual sales rate typical in healthy housing markets.

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