State homes sales rise, prices flat

Connecticut home sales rose 17 percent in May compared with the same month last year, but prices were only marginally higher, according to a report released Wednesday by RE/MAX of New England.

State single-family sales are robust, with 5,683 pending sales last month compared with 3,539 a year ago.

"Inventory continues to wane as activity in the market increases," said Dan Breault, regional director of the New England division. "With increased competition, low inventory, and competitive mortgage rates, home sales are anticipated to remain strong throughout the summer."

May's median sales price was $286,250, up less than $1,000 from 2012.

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