The annual rate of pre-owned home sales surged last month, reaching the highest level in more than a decade. The Northeast led the gain.

March 2017 saw the closing of 456,000 existing U.S. home sales. Activity spiked from the 315,000 home sales during the previous month.

Pre-owned residential property sales were also higher compared to the same month last year, when existing home sales amounted to 421,000.

Source: Mortgage Daily