Existing U.S. home sales fall to lowest levels since 2010

By Vince Golle and Reade Pickert, Bloomberg
U.S. sales of previously owned homes dropped in May by more than forecast to the lowest level since October 2010 as the coronavirus pandemic sent demand skidding along with the rest of the economy.
Closing transactions decreased 9.7% from the prior month to an annualized pace of 3.91 million, data from the National Association of Realtors showed Monday. The median forecast in a Bloomberg survey of economists called for a 4.09 million rate. Compared wit