WASHINGTON ― Sales of existing U.S. homes in August rose unexpectedly to their highest level in nearly a year and a half, according to data from the National Association of Realtors. Home resales increased by 1.3% to a seasonally adjusted annual rate of 5.49 million units in the second consecutive month of gains. In a Reuters poll, economists predicted a 0.4% decline to 5.37 million units. The pace of the increase, the first annual gain in 17 months, was the fastest in more than two years.
U.S. home resales hit surprise 17-month high
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