(From Reuters) Sales of previously owned U.S. homes jumped last month to their highest level in more than 2-1/2 years, but a fall in an economic activity gauge was a reminder recovery from recession would be patchy.

The National Association of Realtors said on Monday sales of existing home sales surged a record 10.1 percent month-over-month to an annual rate of 6.10 million units as buyers rushed to take advantage of a popular tax credit for first-time buyers that had been scheduled to end this month.

It was the highest since February 2007 and beat market expectations for a 5.70 million-unit pace. Sales in September were at a 5.54 million-unit rate.

Read more here: U.S. home sales at 2-1/2 year high