Sales dropped 5.4% last month to a seasonally adjusted annual rate of 3.89m units, the lowest level since DecemberUS existing home sales fell more than expected in June as the median house price set another record high, but improving supply and declining mortgage rates offered hope that activity could rebound in the months ahead.Home sales dropped 5.4% last month to a seasonally adjusted annual rate of 3.89m units, the lowest level since December, the National Association of Realtors said on Tuesday. Economists polled by Reuters had forecast home resales would slip to a rate of 4m units. Continue reading...