Existing-home sales fell 1.2 percent in June to an annual sales rate of 5.08 million as the price of a single-family home rose 13.5 percent from a year earlier--the strongest year-over-year gain since November 2005, the National Association of Realtors reported Monday

Economists surveyed by Bloomberg expected existing-home sales to jump to 5.27 million from May’s originally reported sales pace of 5.18 million.