(Existing-home sales article updated with additional data and commentary.)NEW YORK ( TheStreet) -- The National Association of Realtors said Tuesday morning that existing home sales fell 27.2% in July to a seasonally adjusted annual rate of 3.83 million units. Economists had expected the figure to come in at 4.72 million units, compared with a downwardly revised 5.26 million in June. Sales were at the lowest level since the total existing-home sales series launched in 1999, the report said. Single-family homes were at the lowest level since May of 1995, plummeting 27.1% in July to a seasonally-adjusted annual rate of 3.37 million, from a pace of 4.62 million in June, and 25.6% below year-earlier levels. Single-family homes account for the bulk of all existing home sales.
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