U.S. existing home sales surge; supply improves

``The National Association of Realtors said on Wednesday existing home sales surged 5.1 percent to an annual rate of 5.33 million units last month. Economists polled by Reuters had forecast sales rising 3.5 percent to a 5.30 million-unit pace... Despite a report on Tuesday showing a plunge in housing starts and building permits in March, housing remains a bright spot amid indications that economic growth slowed to a crawl in the first three months of the year.''