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Sales of U.S. Existing Homes Rise for First Time in Three Months
Sales of existing U.S homes rose in April for the first time in three months, indicating the industry is stabilizing. Purchases of previously owned houses, tabulated when a contract closes, increased 3.4 percent to a 4.62 million annual rate, figures from the National Association of Realtors showed today in Washington. The median forecast of economists surveyed by Bloomberg News called for a rise to a 4.61 million rate. Gains in employment, depressed prices and record-low mortgage rates may bring more properties within reach of buyers, eliminating a source weakness for the world’s largest economy just as risks from ... (full story)
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