Pursuits
Pending Sales of Previously Owned U.S. Homes Rose 0.5% in July
- Gauge of Northeast pending sales strongest since February 2007
- Pending purchases of existing homes rose 7.2% from year ago
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Contracts to purchase previously owned U.S. homes climbed in July for the sixth time in the last seven months, signaling further momentum in residential real estate.
The pending home sales index increased 0.5 percent after a revised 1.7 percent decline in June, the National Association of Realtors said Thursday. The median projection in a Bloomberg survey of economists called for the index to rise 1 percent.