RTTNews - Existing home sales increased for the second consecutive month in May, according to a report released by the National Association of Realtors on Tuesday, although the sales growth came in below economist estimates.

The report showed that existing home sales rose 2.4 percent to an annual rate of 4.77 million units in May from a revised 4.66 million units in April. Economists had expected sales to rise 3 percent to 4.82 million units from the 4.68 million units originally reported for the previous month.

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