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    US: Existing home sales rise at fastest pace in 9 years in May

    Sales of existing climbed 1.8% in May from the prior month to a seasonally adjusted annual rate of 5.53 million, the National Association of Realtors said Wednesday.That was up 4.5% from a year ago and the fastest sales pace since February 2007. Expectations were for a 1.1% rise to a rate of 5.55 million in May.

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