Existing Home Sales Improve

Existing homes sales rose in May from a record low the previous month, the National Association of Realtors said Thursday.

Sales increased to an annual rate of 4.99 million, from 4.89 million in April, NAR said. The median price fell 6.3% from a year ago.
 
Economists had forecast home resales would rise to a 4.95 million rate, Bloomberg reported.