Existing home sales beat expectations

Existing home sales rose 5.1%, more than expected, to an annualized pace of 5.35 million.

Expectations were for the report to show home sales rose 4.8% in May to an annualized rate of 5.28 million, up from a pace of 5.04 million in April.

April’s report showed a 3.3% decline from the prior month.

More to come …

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