Existing Home Sales Fall 4.1% in July

August 23, 2006 10:30 AM, EDT

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xisting home sales fell 4.1% to a two-year low in July, the National Association of Realtors said Wednesday.

The level declined to a 6.33 million annual rate from June’s 6.62 million rate, NAR said.

Regionally, sales fell 5.4% in the Northeast, 5.9% in the Midwest, 1.2% in the South and 6.4% in the West.

Existing home sales account for 85% of the residential real estate market in the United States. When a home is sold, trucks are usually used to transport household appliances and furniture.