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US Existing Home Sales Preview
Sales of previously occupied U.S. homes likely rose last month to the highest level in nearly four years, evidence of a solid housing recovery. Still, the figures probably won't reflect the full impact of higher mortgage rates, which could drag on sales in the coming months. Economists forecast that sales of previously occupied homes rose 1.4 percent in July from June to a seasonally adjusted annual rate of 5.15 million, according to FactSet. That would be the fastest sales pace since November 2009, when a homebuyer tax credit boosted sales. The National Association of Realtors will release the data at 10 a.m. EDT ... (full story)
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