Existing home sales in the United States climbed to their highest level this year in May. The gain followed a smaller increase the prior month.
Existing home sales rose 3.2 percent in May to a seasonally adjusted annual rate of 4.17 million units. The National Association of Realtors reported the increase, which came after a 0.7 percent gain in April. The median price of an existing home reached $429,300 in May. This marked the fourth straight monthly increase and the highest level since last June. The average 30-year fixed-rate mortgage stood at 6.44 percent in May, according to Freddie Mac. That rate was the highest since last August.
