Existing Home Sales Highest since 2009

WASHINGTON (MarketWatch) — Existing-home sales rose in May to the highest pace since November 2009, when buyers were rushing to make a tax-credit deadline, pointing to a continuing recovery, the National Association of Realtors reported Thursday.MW-BE419_EHS062_20130620110635_MG

Existing-home sales rose 4.2% in May to a seasonally adjusted annual rate of 5.18 million. These sales were 12.9% higher than during the same period in the prior year.Economists polled by MarketWatch had expected the pace of existing-home sales to hit a rate of 5 million in May, compared with an April rate of 4.97 million. Read more here…

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