West, Northeast drive spike in home sales activity

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Pending home sales activity hit a nine-year high during May, according to the National Association of Realtors. Sales volume increased by 0.9 percent in May when compared to April and by 10.4 percent when compared to May 2014. Activity has now increased on a year-to-year basis for nine straight months, with month-to-month increases occurring each of the last five months.