2.4 percent

Month-over-month increase in existing-home sales for the month of May, according to the National Association of Realtors. That gain and the 2.9 percent climb in April represent the first back-to-back monthly sales growth since September 2005.

At Monday's press conference for the "The State of the Nation's Housing 2009" report, Eric Belsky, executive director of Harvard University's Joint Center for Housing Studies, said three consecutive months of positive sales growth would point to a recovery in the housing market.

It's worth noting that the median sales price of existing homes nationwide—$173,000—is down 16.8 percent from last May. (The median price peaked at $230,100 in July 2006.) The NAR says sales of distressed properties and their generally lower costs helped to impact the overall median price.—Daniel DiClerico | e-mail | Twitter | Forums | Facebook