Existing Home Sales Rise for First Time in Three Months

Existing home sales rose in April for the first time in three months, the National Association of Realtors said Tuesday.

Sales rose 3.4% to a 4.62 million-unit annual rate, the group said.

The level was just over economists’ forecasts of a 4.61 million rate, Bloomberg reported.

Sales of single-family homes rose 3% to an annual rate of 4.09 million. Multifamily units jumped 6% to a 530,000 pace.