In May, sales of existing homes regained pace - a nice sign that the market remains strong after an unexpected drop in sales in April. Last month, the pace of sales increased by 5.1 per cent, seasonally adjusted, to 5.35 million, according to the National Association of Realtors.
Sales for April totaled 5.09 million, despite the fact that the originally reported 5.04 million. Economists surveyed by The Wall Street Journal, expected to increase sales by 4.2 percent to 5.25 million.
This is the best result since November 2009. May sales partly due to the fact that buyers of new homes coming back on the market. Their number increased to 32 percent from 27 percent last year, according to the National Association of Realtors.
Sales for April totaled 5.09 million, despite the fact that the originally reported 5.04 million. Economists surveyed by The Wall Street Journal, expected to increase sales by 4.2 percent to 5.25 million.
This is the best result since November 2009. May sales partly due to the fact that buyers of new homes coming back on the market. Their number increased to 32 percent from 27 percent last year, according to the National Association of Realtors.