WASHINGTON — Existing home sales rose 6.5% to a seasonally adjusted 5.39 million-unit rate in July from a revised 5.06 million pace the previous month, the National Association of Realtors announced Wednesday.

The July sales rate was stronger than the median estimate of economists polled by Thomson Reuters, who predicted a 5.16 million rate. It was the  highest since Nov. 2009, when the home buyer tax credit expired.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.