U.S. house resales hit highest level since 2007

09/20/2013 | Reuters · Bloomberg

Sales of previously owned homes reached an annual rate of 5.48 million units in August, the biggest number since February 2007, according to the National Association of Realtors. Economists surveyed by Reuters had predicted 5.25 million. Lawrence Yun, the Realtors' chief economist, says rising interest rates have pressured buyers to close deals.

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