US Home Sales Slightly Up in May Amid Record High Prices and Market Challenges
TL;DR
In May, home sales in the US increased slightly by 0.8%, with prices reaching a record high of $422,800, driven by strong demand and increased inventory, despite high mortgage rates. Sales were strongest in the Northeast, and the market shows signs of slowing at the upper end, with homes taking longer to sell and fewer first-time buyers. A potential decrease in mortgage rates could boost sales further later this year.
Topics:businessreal-estate#home-sales#housing-prices#inventory#market-trends#mortgage-rates#real-estate
- May home sales increase very slightly, but prices hit another record high CNBC
- US existing home sales rise in May; mortgage rates still a constraint Yahoo Finance
- Housing market map: Zillow just released its updated home price forecast for 400-plus housing markets Fast Company
- Waiting for a Buyer's Market? These Top 10 Metros Offer the Biggest Price Cuts—and Booming Inventory Realtor.com
- Home sales remain sluggish as some ‘stubborn sellers’ refuse to give in on price MarketWatch
Want the full story? Read the original reporting
Read on CNBC