Housing market improved a bit in summer

(Photo: Jonathan Ernst / REUTERS)

More Americans purchased previously-owned homes in July, suggesting improvement in the beleaguered housing market over the summer.

Existing home sales rose 2.3 percent last month, with sales rising to a seasonally adjusted annual rate of to 4.47 million units, the National Association of Realtors said Wednesday. That was just below analysts’ expectations of a 4.52 million-unit rate.

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