WASHINGTON — Existing home sales surged past economists’ estimates in December, jumping a record 12.3% to a seasonally adjusted annual rate of 5.28 million, the National Association of Realtors reported Thursday.

Economists expected a rate of 4.87 million home sales for the month. Home sales in November were revised higher to an annual rate of 4.70 million from an initially reported 4.68 million.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.