Sales of previously owned U.S. homes rose in August to the highest level in more than a year amid lower borrowing costs and sustained income gains, adding to signs the housing market is breaking out of a slump.  Contract closings rose 1.3% from the prior month to a 5.4 9 million annual rate, the fastest pace since March 2018, the National Association of Realtors said Thursday. That exceeded forecasts in a Bloomberg survey of economists, whose median projection was 5.38 million. The median sales price rose 4.7% from a year earlier — the second-fastest gain in the past year — to $278,200.

Full Article here: U.S. home sales jump in August 

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