Existing Home Sales Rise 4.5% in April to Record Rate

ales of existing homes rose 4.5% in April to a record annual rate of 7.18 million, the National Association of Realtors said Tuesday.

NAR revised March sales downward to 6.87 million homes, from 6.89 million. Analysts had predicted sales to rise to 6.9 million, Bloomberg reported.

Existing home sales account for 85% of the residential real estate market in the United States. When a home is sold, trucks are usually used to transport household appliances and furniture.