Another month, another drop in home sales

It’s becoming quite the ritual: Another month passes, and the National Association of Realtors announces another drop in the sales of existing homes.

June, unfortunately, did not break this trend.

The sales of existing homes — which includes single-famiy homes, condominiums, townhouses and co-ops — fell 2.66 percent in June. This puts yearly sales down 15.5 percent, so far, from last year. And remember that everyone thought last year was a terrible one for home sales?

Well, this year is going to be even worse.

The good news is for buyers. The national median housing price continued to drop, falling 6.1 percent from one year earlier. It now stands at $215,100. Last year at this time, it was $229,000.