U.S. Existing Home Sales Rise Sharply

  • 2/5/2023
  • 17:18
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WASHINGTON, Rajab 13, 1437, April 20, 2016, SPA -- U.S. home resales rebounded more than expected in March, an industry group said Wednesday, suggesting that the housing market recovery remained intact despite signs that economic growth probably stalled in the first quarter. The National Association of Realtorssaid that existing home sales surged 5.1 percent to an annual rate of 5.33 million units last month.  February’s sales pace was revised slightly down to 5.07 million units from the previously reported 5.08 million units. Economists had forecast sales rising 3.5 percent to a 5.3 million-unit pace in March.  Sales were up 1.5 percent from a year ago.  Home resales have been volatile since the introduction of new mortgage disclosure rules late last year. Existing home sales rose in all four regions last month, surging 11.1 percent in the North east and accelerating 9.8 percent in the Midwest. --SPA 17:37 LOCAL TIME 14:37 GMT www.spa.gov.sa/w

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