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US home sales hit 6½-year high but could slow soon

By Christopher Rugaber
Published September 19, 2013 4:10pm ET
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US home sales hit 6½-year high but could slow soon
In this Wednesday, Sept. 18, 2013 photo a for sale sign hangs in front of a house in Walpole, Mass. U.S. home sales rose in August 2013 to the highest level since February 2007 as buyers rushed to close deals before interest rates rise further.( AP Photo/Steven Senne) | Steven Senne

WASHINGTON (AP) — U.S. home sales rose last month to the highest level since February 2007 as buyers rushed to close deals before mortgage rates increased further.

Yet the gain could represent a temporary peak if higher rates slow sales in coming months.

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