Existing-Home Sales Drop for First Time Since Feb.

The video tutorial discusses the recent sales figures for existing homes, which have fallen to 5.39 million, below the Bloomberg survey estimate of 5.51 million and the prior reading of 5.57 million. This represents a 3.2% decline, contrary to the expected 1.1% fall. The instructor uses the Bloomberg Terminal to show sales trends over the years, highlighting that current levels are similar to those in 2007. The video emphasizes the month-on-month decline in existing home sales.

What percentage fall in sales was noted in the text?

What trend is observed in the sales of existing homes over the past several years?