U.S. existing home sales jump to 3-year high

WASHINGTON Wed Aug 21, 2013 10:01am EDT

WASHINGTON Aug 21 (Reuters) - U.S. home resales rose in July to their highest level in over three years, suggesting a sharp increase in borrowing costs is having only a limited impact on the housing market recovery.

The National Association of Realtors said on Wednesday that existing home sales jumped 6.5 percent to an annual rate of 5.39 million units. Analysts polled by Reuters had anticipated a smaller increase.

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