Existing home sales increased in July for the first time in five months, according to the National Association of Realtors.
Total existing home sales rose 1.3% to a seasonally adjusted annual rate of 3.95 million in July, marking the first increase after four months of declines.
NAHB attributed the increase in home sales to improving inventory and declining mortgage rates, which have motivated more prospective buyers to act.
Read the full existing home sales report here.
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