Sales of U.S. Existing Homes Probably Climbed for Third Month

Sales of previously owned U.S. homes probably rose in March for a third month to reach the highest level since late 2009, further evidence of an improving real-estate market, economists said before a report today.

Purchases climbed 0.4 percent last month to a 5 million annualized rate, according to the median forecast of 66 economists surveyed by Bloomberg before data from the National Association of Realtors in Washington. The last time sales exceeded a 5 million pace was November 2009, when first-time homebuyers rushed to take advantage of a temporary tax credit.