A report released by the National Association of Realtors on Tuesday showed existing home sales in the U.S. spiked by much more than anticipated in the month of May.
NAR said existing home sales surged by 3.2 percent to an annual rate of 4.17 million in May after climbing by 0.8 percent to an upwardly revised rate of 4.04 million in April.
Economists had expected existing home sales to jump by 1.5 percent to an annual rate of 4.08 million from the 4.02 million originally reported for the previous month.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.