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Existing home sales rose 6.5% in July to the fastest pace since November 2009, the National Association of Realtors said Wednesday.

Sales rose to an annual rate of 5.39 million, following June’s 5.08 million.

The July level wasÌýhigher than economists’ median forecast of a 5.15 million rate, Bloomberg News reported.

The rateÌýrose in part as more buyers entered the market before further increases inÌýmortgage rates, Bloomberg reported.