Sales of previously occupied homes in the US surged in July to a seasonally adjusted annual rate of 5.39 million, approaching a healthy level for the first time since November 2009.
The spike in home sales shows housing continues to drive the economy. The National Association of Realtors said that sales jumped 6.5% from a 5.06 million pace in June.
Sales are 17.2% higher than 12 months ago.
US home sales and prices have climbed since early last year, buoyed by steady hiring and historically low mortgage rates.
But mortgage rates have begun to rise in the past two months and could slow sales later this year.
