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The National Association of Realtors released the existing home sales in the U.S. The existing home sales rose 4.9% to 4.89 million units in May from 4.66 million in April. That was the highest monthly increase since August 2011.
April's figures were revised up to a rate of 4.66 million from 4.65 million. Analysts had expected an increase to 4.74 million units.
Despite an improving trend, existing home sales were down 5% from the year-earlier level.
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