Sales  of previously occupied homes rose modestly from April to May, the third monthly increase this year, but signs of any housing recovery are fragile at best. 

The National Association of Realtors said Tuesday that home sales rose 2.4 percent to a seasonally adjusted annual rate of 4.77 million last month, from a downwardly revised pace of 4.66 million in April.

Prices, meanwhile, dropped by 16.8 percent from a year ago.

The results missed economists' expectations.

Sales had been expected to rise to an annual pace of 4.81 million units, according to Thomson Reuters.

The median sales price plunged to $173,000 from $207,900 in the same month last year, but up from $166,600 in April.

Hey - and that was when rates were in the 4's.... I imagine the figures will be worse in the future - since rates rose in the past month - but helping keep the momentum going is the 8k tax credit. 

Once that goes away in December - there had better be something else helping housing..

I'm crazy busy now though - with first time homebuyer clients....  They come to me when they want someone who guarantees that I'll always be

on their side.   There are only about 700 of us (Exclusive Buyer Agents) in the USA...... We never rep. sellers.   We are specialists - not generalists - so very good at what we do (home finding, negotiation, getting folks to closing smoothly...)   Buyers come to us - when they want the best....

Off to write up three contracts for purchase..... including a deep discounted (as of yesterday) bank owned one...  :-)