The National Association of Realtors says home sales sank 3.8 percent last month to a seasonally adjusted annual rate of 4.81 million homes, the weakest pace since November. Economists say that's far below the 6 million homes per year sold in healthy housing markets.
Since the housing boom went bust in 2006, sales have fallen in four of the past five years. They hit a 13-year low last year.
First-time homebuyers ticked down to 35 percent of sales. First-timers typically drive half of sales in healthy markets.
Foreclosures declined to make up 31 percent of sales, down from 37 percent in May. But more are expected this year.
