U.S. Home Sales Hit Eight-Year High

(Los Angeles Times/TNS) -

Americans ramped up their purchases of previously owned homes in June, sending sales to the highest level in more than eight years.

Existing-home sales rose 3.2 percent from May to a seasonally adjusted annual rate of 5.49 million, the National Association of Realtors said Wednesday. The gain beat the expectations of Wall Street and provided further evidence of the housing market’s rebound.

Lawrence Yun, chief executive for the Realtors, said sustained job growth has boosted demand and made this year’s spring buying season the strongest since the downturn.

“Buyers have come back in force,” he said in a statement.

Sales climbed in all regions tracked by the Realtors: the West, Northeast, Midwest and South.