FXstreet.com(Barcelona) - Sales of existing houses have increased in may for their first time in the last three months, while prices continued declining, according to the latest survey by the National Association of Realtors.

Existing home sales have increased by 2.0% in May to an annual rate of 4.99 million houses annual rate, up from the 4.89 million annual rate posted in April. The amount of sales declined 1.2% in April.

The median house price has decliner 6.3% year on year in May, to $208,600 in May this year, from $222,700 in may 2007. House prices however, increased on the month from the $201,200 median price in April.