May existing home sales rise close to record, says NAR
Existing single-family home sales rose in May and were at the third-highest monthly pace on record, according
to the National Association of Realtors.
Existing home sales increased 1.2 percent to a seasonally adjusted annual rate of 5.92 million units in May from an upwardly revised level of
5.85 million units in April. Last month's sales activity was 4.4 percent above
the 5.67-million unit pace in May 2002. The record is a 6.10-million unit sales rate in January 2003, while the second highest is 5.96 million in January 2002.