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Home Sales Up in Ohio, US

Sales of existing homes rose in August in Central Ohio, the state, and the nation. Jim Letizia reports. 

The Columbus Board of Realtors says nearly 3 thousand homes were sold in its 20 county region last month, up by 11 percent from July. Sales so far this year are at the highest point on record. The Ohio Association of Realtors says the number of existing homes sold statewide rose by 19.9 percent in August as compared with July - the 26th straight monthly gain. Sales so far this year have risen by 17.5 percent as compared with the first eight months of 2012. And the National Association of Realtors says existing U.S. home sales rose last month to the highest level since February 2007 as buyers rushed to close deals before interest rates rise further. Sales rose by 1.7 percent over July to a seasonally adjusted annual rate of 5.48 million. August sales reflect contracts signed in June and July, when mortgage rates were rising steadily. But national buyer traffic dropped significantly in August, meaning sales could slow in the months ahead.

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