WASHINGTON — US sales of previously occupied homes dipped in June but remain near 3½-year high.
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Sales of new homes rose in May to the fastest pace in five years, a solid gain that added to signs of a steadily improving housing market.
While closings were down, there's been a dramatic decline in foreclosures and short sales causing an increase in prices.
The May sales report also shows that the median sale price of all closings last month was $194,450, up 15 percent from last year.