US Existing Home Sales Reach Three-Year High

Grew faster than expected in July

Existing home sales in the U.S. rose by much more than anticipated in the month of July, according to a report released by the National Association of Realtors on Wednesday.

NAR said existing home sales jumped 6.5 percent to a seasonally adjusted annual rate of 5.39 million in July from a downwardly revised 5.06 million in June.