National Association of Realtors raises a red flag on housing prices

The number of homebuyers signing contracts to buy a house or condo reached a nine-year high in May, though the National Association of Realtors sounded a warning about rising prices. The NAR says pending sales of existing homes rose 0.9 percent last month, and contract signings were up 10.4 percent from a year ago. Pending home sales have increased year-over-year for nine consecutive months, and the association says 2015 is shaping up to be the best year for the housing market since the downturn. Strong…
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