Existing home sales in the U.S. showed a notable increase in the month of July, according to a report released by the National Association of Realtors on Wednesday, although sales still came in slightly below economist estimates.
NAR said existing home sales rose 2.3 percent to an annual rate of 4.47 million in July from 4.37 million in June. Economists had been expecting existing home sales to climb to an annual rate of 4.50 million.
The slightly smaller than expected increase in existing home sales in July came on the heels of a 5.4 percent decrease in the previous month.
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