U.S. existing home sales jump in April on tax credit

WASHINGTON, May 24 (BestGrowthStock) – Sales of previously owned
U.S. homes rose more than expected in April to a five month
high, reflecting a last minute dash by buyers to close
contracts before the expiry of a homebuyer tax credit, an
industry group said on Monday.

The National Association of Realtors said sales rose 7.6
percent month-over-month to an annual rate of 5.77 million
units, the highest since November, from a slightly upwardly
revised 5.36 million-unit pace in March.

Analysts polled by Reuters had expected April sales to
increase 5.6 percent to a 5.65 million-unit pace from the
previously reported 5.35 million units in March. Sales were up
22.8 percent in the 12 months to April.

Growth Stocks
(Reporting by Lucia Mutikani; Editing by Theodore d’Afflisio)

U.S. existing home sales jump in April on tax credit