US recent home sales surged to a year-high in March, with purchases of latest single-family homes up nearly 10% last month.
News that might suggest the domestic housing market is starting to stabilize following the recent decline in mortgage rates was revealed by the Commerce Department on Tuesday with 683,000 recent sales last month – up from a revised 623,000 in February.
Those March figures blew away estimates, with economists polled by Reuters projecting recent home sales to be around 630,000 a month.
