WASHINGTON (AFP) - US existing home sales climbed 1.0 percent in March to their third highest pace on record, the National Association of Realtors reported, in a sign of a still-hot housing sector.
Home sales grew to an annualized pace of 6.89 million units, better than the 6.8 million expected by Wall Street analysts.
"With mortgage interest rates remaining historically low, gains in the labor market and economic growth appear to have lifted the confidence of home buyers," said David Lereah, NAR's chief economist. |