Sales of existing homes rose last month.
Jim Letizia reports.
The Columbus Board of Realtors says existing home sales rose by 27 percent in May as compared with last year. More than 27 hundred sales were made in the board's 20 county region. Statewide, the Ohio Association of Realtors says sales rose by 16 percent in May for the 23rd straight month, with nearly 13 thousand homes changing hands. And the National Association of Realtors says U.S. home sales rose by 4.2 percent in May to a seasonally adjusted annual rate of 5.18 million. It's the first time U.S. sales exceeded the 5 million mark in 3 and 1/2 years. The organizations credit an improving housing market. The median price of a home rose by 15 percent in May to 208 thousand dollars, the highest level since July 2008. In central Ohio, the median sale price rose by 8 percent from April to 150 thousand dollars. Statewide, the average sale price was 148 thousand dollars, a 9 percent increase over May of last year.