Key facts
- Existing-home sales rose 3.2% month-over-month and year-over-year in May.
- The median existing-home price reached $429,300 in May, a 1.3% increase from the previous year.
- Total housing inventory stood at 1.55 million units in May.
- Existing home sales decreased by 2.4% in June.
- The average price of existing home sales in June was $440,600, up 1.8% year-over-year.
Existing-home sales saw a 3.2% increase month-over-month and year-over-year in May, reaching a seasonally adjusted annual rate of 4.17 million units, according to the National Association of REALTORS® (NAR).
This rise was driven by improvements in affordability, with mortgage rates lower than a year ago and income gains outpacing home price growth. The median existing-home price for all housing types climbed 1.3% from May 2025 to $429,300, marking the 35th consecutive month of year-over-year price increases. Total housing inventory in May was 1.55 million units, a slight increase from April, representing a 4.5-month supply.
However, data for June indicated a slowdown, with existing home sales falling by 2.4% from May to a seasonally adjusted, annualized rate of 4.09 million units. This decline was seen across the South, Midwest, and West regions, with only the Northeast experiencing an increase. Despite the dip in sales volume, the average price of existing home sales in June rose by 1.8% from the previous year to $440,600.