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Existing home sales plunge in May

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Existing home sales in the United States dipped sharply in May, according to the National Association of Realtors.

The seasonally adjusted annualized total was roughly 3.9 million units, representing a 9.7% drop from April. Sales were down 26.6% year over year, marking the largest annual decline since 1982.

Realtors expect May to represent the bottom amid the coronavirus pandemic, according to CNBC.

Read more from CNBC.

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