Existing-home sales jump more than expected

US existing-home sales rose more than forecast in May, according to the National Association of Realtors. 
Sales of existing condos, co-ops, and single-family homes increased by 1.1% at a seasonally adjusted annual rate of 5.62 million.
The NAR's report showed again that buyers faced limited choices. The inventory shortage helped raise the median price on an existing home to a record $252,800.
"Although we have not seen a rapid acceleration in home prices, the steady gains of