U.S. Existing Homes Sales Rise on Distressed-Property Demand
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Sales of U.S. previously owned homes rose in March as a mounting supply of properties in or near foreclosure lured investors.
Purchases increased 3.7 percent to a 5.1 million annual rate, exceeding the 5 million median forecast of economists surveyed by Bloomberg News, figures from the National Association of Realtors showed today in Washington. All-cash deals accounted for 35 percent of transactions, the most on record, the group said.