CLEVELAND, Ohio — Statewide home sales rose in May, but a national dip took analysts by surprise and provoked more questions about the housing market’s health.
Spring buying blossomed in the Buckeye State, with sales of new and existing homes rising 10.6 percent from April to May, the Ohio Association of Realtors said today. In Northeast Ohio, sales of new and existing single-family homes were up 3.6 percent, while condo sales jumped 5.9 percent, according to data for 15 counties covered by the Northeast Ohio Real Estate Exchange listing system.
The national picture wasn’t so sunny. The National Association of Realtors said today that sales of previously owned homes dropped 2.2 percent from April to May, according to seasonally adjusted data. Without accounting for seasonal patterns — sales traditionally rise in the spring and fall in the winter — nationwide sales rose 0.8 percent, a much smaller increase than analysts were expecting.
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