BOSTON (MarketWatch) — Home-builder shares rallied in morning trading Thursday after the National Association of Realtors reported sales of existing homes rose 3.6% in June to the highest level since October. “Less bad. That’s how I’d describe the housing market. The June existing home sales report was no exception,” said Weiss Research analyst Mike Larson. The iShares Dow Jones U.S. Home Construction Index Fund , an exchange-traded fund tracking builder shares, was up nearly 4% in recent trading. Standard Pacific Corp. rose 14% after the company reported a smaller loss than analysts had expected.
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