Existing home sales ease but remain at record levels, says NAR

Sales of existing single-family homes eased slightly last month but were still at one of the strongest levels on record, according to the National Association of Realtors.

Existing home sales slipped 0.3 percent in June to a seasonally adjusted annual rate of 5.83 million units from a downwardly revised level of 5.85 million units in May. Last month's sales activity was 8.6 percent above the 5.37-million unit pace in June 2002, and was tied for the fourth highest month on record.