US pending home sales rise, supply constraints remain
Contracts to buy previously owned homes unexpectedly rose in June after two straight monthly declines, but the housing market remains hobbled by a dearth of properties available for sale. The National Association of Realtors said recently its Pending Home Sales Index, based on contracts signed last month, increased 0.9 percent to a reading of 106.9. Economists polled by Reuters had forecast pending home sales unchanged in June.
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