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Sales of Previously Owned U.S. Homes Probably Climbed in July
Sales of existing homes probably climbed in July from an eight-month low, adding to signs U.S. housing may pick up in the second half, economists said before a report today. Purchases rose 3.2 percent to a 4.51 million annual rate, following a decline in the prior month, according to the median forecast of 73 economists surveyed by Bloomberg. Buoyed by cheaper properties and record-low mortgage costs, demand for real estate is bolstering the industry that helped trigger the recession. Minutes of the Federal Reserve’s latest meeting, also due today, will be a reminder that policy makers are monitoring data such as ... (full story)
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