Existing-home sales slipped 0.7% in May to a seasonally adjusted annual rate of 4.11 million. The median existing-home sales price jumped 5.8% from May 2023 to $419,300 - the highest price ever recorded.
When mortgage rates started to rise earlier this year, existing home sales trended lower. However, more sellers are becoming buyers, showing growth in new listing and pending sales contract data.
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