Existing Home Sales Increased in May

Existing home sales rose 3.2% to a seasonally adjusted annual rate of 4.17 million units in May 2026, reaching a five-month high as the first-time buyer share climbed to 35%, the highest since June 2020, according to National Association of Realtors data cited in this NAHB blog post. Despite the sales increase, inventory remained tight at 1.55 million units with a 4.5-month supply, mortgage rates held around 6.5% after rising over 50 basis points since late February, and the median existing home price reached $429,300, up 1.3% year-over-year for the 35th consecutive month of annual gains.