RTTNews - Existing home sales increased by much more than expected in the month of July, according to a report released by the National Association of Realtors on Friday, with home sales rising for the fourth consecutive month.

The report showed that existing home sales rose 7.2 percent to an annual rate of 5.24 million units in July from a 4.89 million unit rate in June. Economists had been expecting a more modest increase to a 5.0 million unit rate.

For comments and feedback: contact editorial@rttnews.com