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Previously Owned U.S. Home Sales Climb to 4.92 Million

Sales of previously owned homes increased in January and an index of leading indicators climbed for a second month as the rebound in housing helped to broaden the U.S. expansion.

Purchases of existing houses rose 0.4 percent to a 4.92 million annual rate, figures from the National Association of Realtors showed today in Washington. A gauge of the economic outlook for the next three to six months advanced 0.2 percent after a 0.5 percent December gain, according to the New York-based Conference Board.