Sales of existing homes in the U.S. moved at the fastest pace in nearly a decade in May, according to the National Association of Realtors. Properties in five of the hottest markets sold in less than 30 days.
Sales of existing homes, which includes single family homes, townhomes, condos and co-ops, was up 1.8% to a seasonally adjusted annual rate of 5.53 million. That’s up 4.5% from last year and is the highest annual pace since February of 2007.
All regions saw strong sales except the Midwest.
Which markets are blazing hot seller's markets? And which markets are prime for buying?
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