Existing home sales hit 9-year high
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US home resales rose in May to a more than nine-year high as improving supply increased choice for buyers, suggesting that the economy remains on solid footing despite a sharp slowdown in job growth last month.
The National Association of Realtors said on Wednesday that existing home sales increased 1.8 per cent to an annual rate of 5.53 million units last month, the highest level since February 2007.
