Limited supplies of housing inventory held back existing-home sales in May, but sales maintained a strong lead over year-ago levels and home prices are on a sustained uptrend in all regions, according to the National Association of Realtors (NAR). Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 1.5% to a seasonally adjusted annual rate of 4.55 million in May from 4.62 million in April, but are 9.6% above the 4.15 million-unit pace in May 2011.
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