WASHINGTON • U.S. sales of previously occupied homes surged in July to a seasonally adjusted annual rate of 5.39 million, approaching a healthy level for the first time since November 2009. The spike in sales shows housing remains a driving force for the economy even as mortgage rates rise.
The National Association of Realtors said Wednesday that sales jumped 6.5 percent last month from a 5.06 million pace in June. They have risen 17.2 percent over the past 12 months ago.
Sales have now stayed a...
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