| WASHINGTON, July 28
WASHINGTON, July 28 Contracts to buy
previously-owned U.S. homes unexpectedly fell in June, casting
a cloud over the housing market recovery.
The National Association of Realtors (NAR) said on Monday
its Pending Home Sales Index, based on contracts signed last
month, fell 1.1 percent to 102.7.
The decline, which confounded economists' expectations for a
0.5 percent gain, followed three straight months of increases.
Pending home sales, which lead sales by a month or two,
increased 6.0 percent in May.
Contracts fell in the Northeast and the South, but rose in
the West and the Midwest.
(Reporting by Moriah Costa; Editing by Paul Simao)