Wall Street falls low in housing sales in US

The stock exchange in New York closed lower, after the Dow Jones industrial average fell 38.86 points (0.24 percent) to close at 15,000 521.97 points after falling home sales in June.

Fewer Americans signed contracts to buy homes in June of resale, which shows that higher mortgage rates are beginning to slow the housing market.

The index of pending home sales fell 0.4 percent to 110.9 points compared to May, after rising the previous month to the highest level since December 2006, according to figures from the National Association of Realtors.

The index of pending home sale is an indicator that reflects the number of contracts between buyers and sellers that ultimately end up ratifying.


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