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April existing home sales rise by 2.9 percent



Sales of previously occupied homes rose modestly from March to April as buyers who were brave enough to dive into the market took advantage of prices that were 15.4 percent below yearago levels. The National Association of Realtors said today that home sales rose 2.9 percent to an annual rate of 4.68 million last month, from a downwardly revised pace of 4.55 million in March. The results slightly beat economists' forecasts. Sales had been expected to rise to an annual pace of 4.66 million units, according to Thomson Reuters. The median sales price...

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