Sales of previously occupied U.S. homes accelerated last month to their fastest pace since December, a sharp turnaround in demand for the housing market after a lackluster start to the spring homebuying season. The National Association of Realtors said Tuesday that existing home sales rose 3.2% in May from the previous month to a seasonally adjusted annual rate of 4.17 million units. Sales also rose 3.2% compared to May last year. The latest sales figure topped the roughly 4.07 million pace economists were expecting, according to FactSet. The national median sales price increased 1.3% in May from a year earlier to $429,300.
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