U.S. Sales of Previously Owned Homes Rise as Storm Impact Fades
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Sales of previously owned U.S. homes rose to a four-month high, indicating demand was firming at the start of the quarter as the impact from hurricanes faded, according to a National Association of Realtors report released Tuesday.
Houston and several areas of Florida saw gains when compared with a year earlier, while Miami is still showing some softness, according to NAR. As in the past, economic activity including in the housing industry typically bounces back after major storms as rebuilding and repair work gets under way.