Home sales surged in May to the highest level since December

Published Tue, Jun 9 202610:00 AM EDTUpdated Tue, Jun 9 202611:46 AM EDT

By: Diana Olick

Sales of previously owned homes rebounded more than expected in May, after mortgage rates pulled back slightly in April.

Existing home sales in May rose 3.2% from April to a seasonally adjusted, annualized rate of 4.17 million units, according to the National Association of Realtors. Economists were expecting less than a 1% gain. Sales were also up 3.2% from a year earlier, the strongest pace since December. LEARN MORE…

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