Existing Home Sales Up 1.8% in May
Washington, DC, June 22, 2016—Total existing home sales grew 1.8% to a seasonally adjusted annual rate of 5.53 million in May from a downwardly revised 5.43 million in April, according to the National Association of Realtors.
With last month's gain, sales are now up 4.5% from May 2015 (5.29 million) and are at their highest annual pace since February 2007 (5.79 million).
Surpassing the peak median sales price set last June ($236,300), the median existing-home price for all housing types in May was $239,700, up 4.7% from May 2015 ($228,900).
May's price increase marks the 51st consecutive month of year-over-year gains.