"People are becoming more confident about job prospects and about taking on mortgages"
- Millan Mulraine, a senior U.S. strategist at TD Securities Inc.
U.S. existing home sales rose in April to an annual rate of 4.62 million from 4.47 million in March, said the National Association of Realtors.
"We are making incremental progress," said Millan Mulraine, a senior U.S. strategist at TD Securities Inc. in New York.
"People are becoming more confident about job prospects and about taking on mortgages. This is all positive for the economy."
"The housing market is showing some signs of life," said Gary Thayer, a macro strategist at Wells Fargo Advisors in St. Louis.
© Dukascopy Bank