May Home Sales UP

Existing-home sales edged up in May
an article from MSNBC.com, reports that according to the National Association of Realtors, sales of existing single-family homes and condominiums rose by 2% to an annual rate of 4.99 million units last month. The median price of existing homes sold in May dropped to $208,600, a fall of 6.3% from a year ago. The strength in sales reflected gains in several parts of the country. Sales were up 5.5% in the Midwest, 4.6% in the Northeast and 2% in the West. Senior economist for the Realtors, Paul Bishop, said that for the past few months sales have been rebounding in parts of the country that had been hardest-hit by the housing bust, while sales have weakened in some areas that formerly had been immune from the overall downturn.http://www.msnbc.msn.com/id/25389849/