July Existing-Home Sales at Highest Level Since 2009

Existing-home sales soared 6.5 percent in July to an annual sales rate of 5.39 million—the highest level since November 2009—as the price of a single-family home slipped 0.2 percent, the National Association of Realtors reported Wednesday.

Economists surveyed by Bloomberg expected existing-home sales to increase more modestly to 5.15 million from June’s originally reported sales pace of 5.08 million. June sales were revised down to 5.06 million.

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