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US Home Sales Hit 5.4M In July, Highest Since '09

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August 21, 2013 AT 9:34 AM
For the first time since 2009, previously occupied U.S. homes are selling at a pace associated with a healthy market. Sales jumped 6.5 percent in July to a seasonally adjusted annual rate of 5.4 million. Over the past 12 months, sales have surged 17.2 percent. The trend shows that housing remains a driving force for the economy even as mortgage rates have risen from record lows.