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CNBC: U.S. Home Resales Hit 10-Year High

Existing home sales jumped 3.3 percent in January, reaching the highest level the market has seen since February of 2007.

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Consumers are more confident about the American economy, and it’s starting to impact the housing market. In January, U.S. home resales hit a 10-year high.

According to data from the National Association of Realtors, existing home sales rose 3.3 percent last month to a seasonally adjusted annual rate of 5.69 million units. That’s the highest level the industry has seen since February of 2007. The climbing demand for housing is being fueled by a strengthening labor market. The next generation of American consumers now has access to employment opportunities that weren’t there before, which ultimately leads to more home sales.

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