India, Aug. 21 -- The National Association of Realtors released a report on Thursday showing an unexpected rebound by existing home sales in the U.S. in the month of July.
The report said existing home sales jumped by 2.0 percent to an annual rate of 4.01 million in July after tumbling by 2.7 percent to an annual rate of 3.93 million in June. Economists had expected existing home sales to decrease by 0.8 percent to an annual rate of 3.90 million.
The unexpected rebound came after existing home sales slumped to their lowest annual rate in nine-months in June.
The increase by existing home sales partly reflected strength in the Northeast, where existing home sales surged by 8.7 percent.
Existing home sales in the South and West also shot ...