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Existing-home sales jump 2% in July as inventory of properties for sale grows

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Existing-home sales rose 2% in July from the month prior, the National Association of Realtors reported Monday. Sales occurred at a seasonally-adjusted annual rate of 5.99 million. Compared to July 2020, sales were up 1.5%. The total inventory of homes for sales rose 7.3% on a monthly basis, though it’s still down significantly from a year ago.