Existing-Home Sales Reach Highest Pace in Over Nine Years

Existing-home sales sprang ahead in May to their highest pace in almost a decade, while the uptick in demand this spring amidst lagging supply levels pushed the median sales price to an all-time high, according to the National Association of REALTORS®. All major regions except for the Midwest saw strong sales increases last month.
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, grew 1.8 percent to a seasonally