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Post by bot on Aug 21, 2014 17:05:14 GMT -5
WASHINGTON (MarketWatch) -- Sales of existing homes rose 2.4% in July to a seasonally adjusted annual rate of 5.15 million, the fastest pace this year, the National Association of Realtors reported Thursday. Economists polled by MarketWatch had expected the sales rate to decline to 5 million in July from an originally reported 5.04 million in June. On Thursday NAR tweaked June's sales rate to 5.03 million. July's sales pace was down 4.3% from a year earlier. The median sales price of used homes hit $222,900 in July, up 4.9% from the year-earlier period. July's inventory was 2.37 million existing homes for sale, a 5.5-month supply at the current sales pace. The number of homes available for sale was up 5.8% from the year-earlier period.
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