U.S. existing home sales continue to rise


The mini-positive trend in the U.S. housing sector continues. Existing home sales rose 2.4 percent in May to a seasonally adjusted annual rate to 4.77 million units, the National Association of Realtors announced Tuesday.

Further, it was the first back-to-back monthly increase in existing home sales since 2005 -- a modest, but much-needed accomplishment for a sector that's suffered its deepest and longest contraction in more than 25 years.