News

The national housing market showed fresh signs of life this spring. Existing-home sales rose 3.2 percent in May 2026 to a seasonally adjusted annual rate of 4.17 million, the highest level since December, according to the National Association of REALTORS® (NAR). At the same time, the national median existing-home price climbed to $429,300, up 1.3 percent from a year earlier and a record high for the month of May, with the supply of homes for sale at 4.5 months.1   NAR Chief Economist Lawrence Yun attributed the momentum to improving affordability, noting that mortgage rates, while up slightly from earlier in the year, remain below year-ago levels and near their long-term historical average, and that income gains have modestly outpaced price growth in much of the country.1 Borrowing costs have held in the mid-6 percent range: Freddie Mac reported the average 30-year fixed mortgage at 6.52 percent in mid-June, down from 6.84 percent a year earlier.2 For buyers who had been waiting on the sidelines, the mix of more listings and steadier rates appears to be drawing renewed interest.   1Existing-Home Sales, National Association of REALTORS® (June 2026). Accessed June 17, 2026, https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales   2Primary Mortgage Market Survey, Freddie Mac (June 11, 2026). Accessed June 17, 2026, https://www.freddiemac.com/pmms