U.S. home sales are expected to extend gains

08/18/2013 | Bloomberg

Figures due this week are expected to show that U.S. home sales for July reached a 3½-year high. Economists predict Wednesday's report by the National Association of Realtors will show a healthy gain of home resales despite rising interest rates and a tight supply. "The economy is slowly improving. ... The fundamentals of the market are strong enough to overcome higher mortgage rates," said Roberto Perli, a Washington-based partner for Cornerstone Macro.

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