Existing home sales in the U.S. increased by much more than expected in the month of March, according to a report released by the National Association of Realtors on Wednesday, with existing home sales jumping to their highest rate in 18 months.
NAR said existing home sales surged up 6.1 percent to an annual rate of 5.19 million in March from a revised 4.89 million in February.
Economists had expected existing home sales to climb to a rate of 5.05 million from the 4.88 million originally reported for the previous month.
With the bigger than expected increase, existing home sales rose to their highest level since reaching a matching rate in September of 2013.
The material has been provided by InstaForex Company – www.instaforex.com