Existing-home sales rose 3.2% in May to a seasonally adjusted annual rate of 4.17 million, the highest since December 2025, despite slightly higher mortgage rates. The median home price hit a record $429,300, marking 35 consecutive months of year-over-year increases. Affordability improved across all regions, with first-time buyers accounting for 35% of sales. Inventory rose slightly to 1.55 million units, still below normal levels.
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