Home Resales Soar 11% in April

Home resales surged 11.3% in April to an annual rate of 3.56 million, the fastest pace of existing home sales since October, 1979, the National Assn. of Realtors said today.

The April rate of home resales was up from a 3.2-million annual rate in March. The real estate lobby is projecting existing home sales of about 3.5 million in 1986, based on the expectation that mortgage interest rates, which have fallen more than three percentage points in the last year, will remain below 10% through the end of the year.