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20

Sales of Existing Homes in U.S. Increase More Than Forecast

By Tony Seruga

Sales of previously owned U.S. homes increased more than projected in September, showing residential real estate continues to contribute modestly to growth, National Association of Realtors data showed Thursday.

Key Points

Contract closings rose 3.2 percent to a 5.47 million annual rate (forecast was 5.35 million)
Sales climbed 2.8 percent from September 2015 before seasonal adjustment
Median sales price increased 5.6 percent from September 2015 to $234,200
Inventory of available properties dropped 6.8 percent from a year earlier to 2.04 million…

Sales of Existing Homes in U.S. Increase More Than Forecast

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