US: Existing-home sales took off in March to their highest pace in over 10 years

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums, and co-ops, ascended 4.4 percent to a seasonally adjusted annual rate of 5.71 million in March from a downwardly revised 5.47 million in February, according to the National Association of Realtors. March's sales pace is 5.9 percent above a year ago and surpasses January as the strongest month of sales since February 2007 (5.79 million).