NAR: Sales rise for 4th straight month

Sales of previously owned homes rose for the fourth straight month in July -- a streak that hasn't occurred since June 2004, the National Association of Realtors reported today.

The pace of resale home sales rose 7.2 percent from June to July and 5 percent compared to July 2008, to a seasonally adjusted annual rate of 5.24 million units -- this monthly rise is a record dating for association data dating back to 1999.

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