WASHINGTON — Existing home sales fell 5.1% in June to a seasonally adjusted annual rate of 5.37 million annual as home inventories increased, which could push down prices in the months ahead, the National Association of Realtors reported Thursday.

Home sales have declined in the post-tax credit housing environment. Lawrence Yun, the NAR’s chief economist, said he expected a lull of two months after the tax credit expired at the end of April, but now it may continue three or four months.

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