Two gauges tracking home sales surged last week. New-home sales rose to the highest rate since January 2008. Also, an index tracking contract signings of previously owned homes hit its highest level in a decade. Job growth and fear of higher rents and mortgage rates may be spurring purchases.  Momentum will support a further expansion of sales this summer.

An improving real estate market will support faster growth in the U.S. economy.

(Source, in part: Barrons Online)