By Jeffrey Sparshott | The Wall Street Journal
Sales of existing homes rose to their highest level in more than nine years and prices climbed to a new peak in May, the latest sign of rising demand amid steady job creation and low interest rates.
Sales climbed 1.8% in May from the prior month to a seasonally adjusted annual rate of 5.53 million, the National Association of Realtors said Wednesday. That was the strongest pace since February 2007. April’s sales figure was revised down to 5.43 million.
