Sales of previously-owned homes fell to the lowest pace since February as strong demand bumped up against limited supply.

Existing-home sales were at a 5.52 million seasonally adjusted annual rate in June, the National Association of Realtors said Monday. That was 0.7% above the year-ago rate, but 1.8% lower than in May and marked the second-lowest monthly tally of 2017.

It missed the MarketWatch consensus forecast of a 5.58 million pace.

Supply remains the biggest driver of the market now. Total inventory was 7.1% lower than a yea…
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