May home sales rebound

May home sales rebound

The Portland housing market rose in May to the highest level since late 2007.

The 2,098 homes sold in May were the most reported by the Regional Multiple Listing Service since August 2007. The month's numbers, released on Thursday, even beat a tax credit-fueled buying frenzy in mid-2010.

The number of sales represents a 20.4 percent increase compared with the same month a year earlier. Buyers signed sale contracts on another 2,522 homes in transactions that will close in coming months.

Read more at OregonLive.com.

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