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U.S. pending home sales rise in May

WASHINGTON, June 27 (Reuters) - Contracts to buy previously owned homes increased in May, the National Association of Realtors said on Thursday.

The NAR's pending home sales index increased to a reading of 105.4, up 1.1% from the prior month. Economists polled by Reuters had forecast pending home sales would rise 1.0%. (Reporting by Jason Lange Editing by Paul Simao)

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