Sales of previously owned U.S. homes increased more than analysts expected in April, increasing 2.5 percent as home buyers jumped into the market in advance of an anticipated rise in mortgage interest rates.
The home resales rate climbed to a seasonally adjusted annual clip of 6.64 million units in April, up from a 6.48 million unit rate in March, according to the National Association of Realtors (NAR). Analysts had been projecting a 6.45 million annual sales pace for the month.