September increase for U.S. existing home sales

Sales of previously owned U.S. homes rose more than expected in September, an industry group said Monday, indicating the housing market was stabilizing at weaker levels.

The National Association of Realtors said sales increased 10 percent from August, rising for a second straight month, to an annual rate of 4.53 million units. August's sales pace was revised slightly down to a 4.12 million-unit pace.

Analysts polled by Reuters expected existing home sales to increase 4 percent to a 4.30 million-unit pace from the previously reported 4.13 million units in August.