Existing-home sales fell back for the second straight month in May, as only. With last month's decline, sales are now 3.0 percent below a year.
A seasonally adjusted 4.81 million existing homes were sold in May, down 3.8% from five million in April, and 15.3% from 5.68 million in May 2010, the National Association of Realtors said. But the group warned that May 2010 sales were inflated because of the pending expiration of a tax credit for home buyers.
Existing-home sales in the West jumped 13.6% to an annual rate of 1.25 million in December and are 31.6% higher than a year ago. The median price in the West.
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