U.S. home resales edge up in May

Sales of existing U.S. homes rose by 0.2 percent in May to an annualized rate of 4.3 million units, according to the (U.S.) National Association of Realtors. That rate was slightly above economists’ expectations but 20.4 percent below last May’s figure. The median home price tumbled 3.1 percent compared to a year earlier, falling to $396,100, the lowest since December 2011.