esales were forecast to fall 2.1 percent to a 5.86 million annual rate from a previously reported 5.99 million in May, according to the median estimate of 73 economists in a Bloomberg News survey. Estimates ranged from 5.45 million to 6.12 million.Sales last month were down 11.4 percent from a year earlier.
Homes for Sale
The supply of homes for sale fell 4.2 percent to 4.2 million, the first decline in inventories this year. At the current sales pace, that represented 8.8 months' worth, the same as at the end of the prior month.
``The inventory numbers are encouraging,'' O'Sullivan said. ``I wouldn't celebrate yet, though, because sales are still falling.''
