The national median sales price rose 1.3% in May from a year earlier to $422,800, an all-time high for the month of May.
By ALEX VEIGA, AP Business Writer
NEW YORK (AP) — Sales of previously occupied U.S. homes edged higher in May, as stubbornly high mortgage rates and rising prices made homebuying less affordable even as the inventory of properties on the market continued to increase.
Existing home sales rose 0.8% last month from April to a seasonally adjusted annual rate of 4.03 million units, the National Association of Realtors said Monday.
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