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US existing home sales, inventory surge in May
Reuters / June 23, 2014
U.S. home resales rose more than expected in May and the stock of properties for sale was the highest in more than 1-1/2 years, suggesting that housing was pulling out of a recent slump.
The National Association of Realtors said on Monday existing home sales increased 4.9 percent to an annual rate of 4.89 million units. May’s increase was the largest since August 2011.