Sales of existing homes rise 1.9%Low mortgage rates and...

BUSINESS DIGEST

July 27, 1993

Sales of existing homes rise 1.9%

Low mortgage rates and affordable prices helped drive up sales of previously owned homes in June for the third straight month, and analysts predicted continued growth for the remainder of the year.

Nationally, sales rose 1.9 percent, to a seasonally adjusted annual rate of 3.69 million, the National Association of Realtors said. Sales in May were revised upward, to 3.62 million from 3.61 million.

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