Existing home sales increased 2.4% in May to a seasonally adjusted 4.77 million-unit rate, the National Association of Realtors announced yesterday.

The sales rise to 4.77 million was smaller than the gain to a 4.81 million-unit pace predicted by Thomson Reuters’ poll of economists and followed a revised 2.4% increase in April to 4.66 million units, originally reported as a 2.9% rise to a 4.68 million unit level.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.