Economic Buzz: US Existing Home Sales Fall 0.4% In May

US existing home sales fell by 0.4 percent to an annual rate of 5.43 million in May after plunging by 2.7 percent to a downwardly revised 5.45 million in April, according to a report released by the National Association of Realtors on Wednesday. With the unexpected decrease, existing home sales in May were down by 3.0 compared to the same month a year ago and have fallen year-over-year for three straight months.