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US home sales rack up record gain

from Reuters

US home sales rack up record gain Reuters U.S. home sales increased by the most on record in June, boosted by historically low mortgage rates. The report from the National Association of Realtors on Wednesday confirmed a shift toward bigger homes and properties away from urban centers as companies allow employees flexibility to work from home because of the coronavirus. Existing home sales jumped 20.7% to a seasonally adjusted annual rate of 4.72 million units last month. The percentage gain was the largest since 1968 when the NAR started tracking the series. Sales plunged to a 3.91 million unit pace in May, the lowest level since October 2010. READ MORE

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