Existing-home sales jump in May as median price hits record

June 22, 2016 4:08 PM

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Existing-home sales jumped in May to the highest pace since before the mortgage crisis and sent the median price to an all-time high as sales rose for a third straight month.

Sales of existing single-family homes, townhomes, condominiums and co-ops rose 1.8% to a seasonally adjusted annual rate of 5.53 million, up from April’s revised 5.43 million, the National Association of Realtors reported Wednesday. Compared to a year ago, sales grew 4.5% in May, the highest annual...

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