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Existing home sales fall in July while prices stay strong

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Published Wed, Aug 24, 2016 · 09:50 PM

Washington

US home resales fell more than expected in July after four straight months of strong gains as a lack of inventory limited choice for buyers, but further gains in prices suggested the housing market remained on solid ground.

The National Association of Realtors (NAR) said on Wednesday that existing home sales declined 3.2 per cent to an annual rate of 5.39 million units last month.

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