Sales of existing US homes probably dropped and construction of new ones stayed near a nine-year low last month as the industry slump continues to hold down economic growth.Sales of existing homes probably fell 2.5 percent to an annual rate of 6.3 million last month, according to the median estimate of economists surveyed before a National Association of Realtors report due for release Friday. A report from the Commerce Department tomorrow may show housing starts rose to a 1.45 million annual pace from a 1.408-million rate that was the lowest since August 1997.

Matthew Espeut grew up in Providence’s Elmhurst neighborhood, where his father runs a flower shop, Frey Florist, on Radcliffe Avenue. Today Espeut, 39, is a real estate agent who has also made a career of flipping properties. His latest project, a condo conversion, is on the same street as his father’s shop.

Espeut bought the three-family for $280,000 last June, and after months of renovation work, he is planning to sell the building as three separate condominium units.