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The National Association of Realtors said Thursday, that existing home sales rose 1% to a seasonally adjusted annual rate of 4.87 million. Local market watchers say, In previously hot markets, activity has slowed. Fewer investor buyers are part of the reason, says Mike Orr, Phoenix real estate expert at the W.P. In that market, investor buyers are now accounting for about half as many sales as they did a year ago, Orr says. CoreLogic data shows, Phoenix single-family home prices were up 15% in November year over year.
|December Existing Home Sales Rise 1%|
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