SALES of existing homes in the US fell 0.5 per cent in July to a seasonally adjusted annual rate of 4.14 million units, the National Association of Realtors said yesterday.

Existing home sales fell a revised 2.8 per cent in June to 4.16 million units, compared with the initial estimate of a 2.3 per cent drop. The consensus forecast for July existing home sales had been for a 2 per cent decline to 4.10 million units.