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Enviado: 25/6/2004 15:09May existing-home sales up 2.6 percent to new record
WASHINGTON (CBS.MW) -- Sales of existing homes in the United States unexpectedly rose 2.6 percent in May to a new record seasonally adjusted annual rate of 6.80 million units, according to the National Association of Realtors.
The sales were well ahead of expectations. Economists had been predicting a drop to 6.50 million units from 6.63 million units in April.
The May activity was up 15.8 percent compared to a year ago.
NAR chief economist David Lereah said May's pace is "probably the peak" for housing activity.
The national median for home prices was $183,600 in May, up 10.3 percent from a year ealier.
WASHINGTON (CBS.MW) -- Sales of existing homes in the United States unexpectedly rose 2.6 percent in May to a new record seasonally adjusted annual rate of 6.80 million units, according to the National Association of Realtors.
The sales were well ahead of expectations. Economists had been predicting a drop to 6.50 million units from 6.63 million units in April.
The May activity was up 15.8 percent compared to a year ago.
NAR chief economist David Lereah said May's pace is "probably the peak" for housing activity.
The national median for home prices was $183,600 in May, up 10.3 percent from a year ealier.