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10:00 AM ET, Jul 25, 2007 - 10 minutes ago
U.S. June home inventories 8.8 months supply, 15-year high
U.S. June existing-home sales weaker than 5.90 mln expected
U.S. June median home sales price up 0.1% in past year
U.S. June existing-home inventory falls 4.2% to 4.20 mln
U.S. June existing-home sales fall 3.8% to 5.75 million pace

By Rex Nutting Last Update: 10:00 AM ET Jul 25, 2007
WASHINGTON (MarketWatch) - U.S. sales of existing homes fell 3.8% in June to a seasonally adjusted annual rate of 5.75 million, the lowest rate since November 2002, the National Association of Realtors reported Wednesday. Sales in June were down 11.4% from June 2006. Inventories of unsold homes on the market fell by 180,000, or 4.2%, to 4.20 million, representing a 8.8-month supply at the June sales rate. The months' supply was also 8.8 months in May, the highest since 1992. The median sales price was $230,100, up 0.3% since June 2006. It's the first time in 11 months that median sales prices did not fall compared with a year earlier.