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US existing-home sales fell 3.5pc in July
WASHINGTON : US existing-home sales unexpectedly dropped in July as cancellations of pending contracts continued to depr
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The National Association of Realtors said sales fell 3.5 percent month over month to an annual rate of 4.67 million units. June's sales were upwardly revised at a 4.84 million-unit rate.
Economists polled by Reuters had expected sales to rise 3.8 percent to a 4.90 million-unit pace. Compared to July 2010, sales were 21 percent higher.
Copyright Reuters, 2011