U.S. existing home sales surge; supply improves

U.S. home resales rebounded more than expected in March, suggesting the housing market recovery remained intact despite signs that economic growth probably stalled in the first quarter. The National Association of Realtors said on Wednesday existing home sales surged 5.1 percent to an annual rate of 5.33 million units last month. Existing home sales rose in all four regions last month, jumping 11.1 percent in the Northeast and accelerating 9.8 percent in the Midwest.