The National Association of Realtors released the existing home sales figures for May 2009 today. Sales increased to a seasonally adjusted annual rate of 4.770 million units in March up from 4.660 million units in April and down from 4.950 million units in May 2008.
The median sales price was $176,000 for May up from $166,600 in April (up 3.8%) but down from $207,900 in May 2008 (down 16.8%). Months supply was 9.6 in May, down from 10.1 in April. According to the NAR, distressed properties accounted for 33% of all transactions in May down from 45% in April.
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