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Post by bot on Jun 22, 2015 11:07:12 GMT -5
Existing-home sales rise 5.1% to 5.35 million rate in May, fastest since 2009
WASHINGTON (MarketWatch) -- Sales of existing homes rose 5.1% in May to a seasonally adjusted annual rate of 5.35 million, hitting the fastest pace since November 2009 and rebounding from a drop in April, the National Association of Realtors reported Monday. First-time buyers stepped up their purchases, supported by a strengthening jobs market and greater access to mortgages, according to NAR. A greater number of homes on the market also supported more sales, NAR said. Economists polled by MarketWatch had expected a May rate of 5.25 million, compared with an originally reported April rate of 5.04 million. This year is on track to be the best for home sales since 2007, NAR said. On Monday NAR revised April's pace to 5.09 million.
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