April proved a banner month for U.S. home resales, which rose more than expected, suggesting the stateside economy continued to gather pace during the second quarter.
The National Association of Realtors said on Friday existing home sales increased 1.7% to an annual rate of 5.45 million units.
March's sales pace was revised slightly higher to 5.36 million units from the previously reported 5.33 million units.
Economists had forecast home resales rising to a 5.40 million-unit pace last month. Sales were up 6% from a year ago.
However, there were regional variations. Home sales surged in the Midwest by 12.1%last month and also rose in the Northeast while the South and West lost steam.
The housing sector has been relatively buoyant, helped by an economy that is nearing full employment.
Earlier this week U.S. housing starts also hiked more than expected in April as builders ramped up the construction of single- and multi-family homes.
