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US pending home sales rise, supply constraints remain

from Reuters

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. more

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