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Sales of previously owned homes rebound in March

Contract closings climb 5.1% to 5.33m annualised rate from February's 5.07m

Published Wed, Apr 20, 2016 · 09:50 PM
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Washington

PURCHASES of previously owned US homes rose more than projected in March, indicating resilience in demand heading into the spring selling season.

Contract closings climbed 5.1 per cent to a 5.33 million annualised rate from February's 5.07 million, figures from the National Association of Realtors (NAR) showed on Wednesday in Washington. Prices rose as inventories remained tight.

The report underscores the role that strong hiring and low borrowing costs are playin…

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