Existing home sales declines even as median sales price reaches record high

Existing-home sales slightly declined in May as the median sales price climbed to a record high, according to the National Association of Realtors. In the four major U.S. regions, sales slid month-over-month in the South but were unchanged in the Northeast, Midwest and West. Year-over-year, sales rose in the Midwest but receded in the Northeast, South and West.

Total existing-home sales — completed transactions that include single-family homes, townhomes, condominiums and co-ops — retreated 0.7 percen from April to a seasonally adjusted annual rate of 4.11 million in May. Year-over-year, sales waned Please log in to see the rest of this story.