Sales of existing single-family homes slipped last month from the third-highest pace on record, but remain above year-ago levels, according to the National Association of Realtors. Existing-home sales eased 0.6 percent in June to a seasonally adjusted annual rate* of 5.33 million units from a level of 5.36 million units in May. Last month's sales activity remained 2.9 percent above the 5.18-million unit pace in June 2000.

Dr. David Lereah, NAR's chief economist, said sales remain very strong. "The current volume of existing-home sales matches the fifth-highest month on record, and sales activity has been fluctuating at exceptionally high levels for most of this year," he said.

Published: July 25, 2001

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