After reporting sharp decreases in U.S. existing home sales over the three previous months, the National Association of Realtors released a report on Tuesday showing existing home sales saw further downside in the month of May.
NAR said existing home sales slid by 0.9 percent to an annual rate of 5.80 million in May after tumbling by 2.7 percent to a rate of 5.85 million in April. Economists had expected existing home sales to slump by 2.2 percent to a rate of 5.72 million.
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