BUSINESS BRIEFING

Times Wire Reports

Pending U.S. home sales rose in June for the fifth straight month, an encouraging sign for the U.S. housing market, the National Assn. of Realtors reported.

For June, the group said its pending home sales index rose 3.6% to a better-than-expected 94.6, from an upwardly revised 91.3 in May.

The report tracks contracts to buy previously owned homes and is considered a barometer for future sales.

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