Thursday, August 28, 2025

US Existing Home Sales Fell 0.9% in May as Surging Prices Push Potential Homebuyers Out of Market

Sales of existing homes declined for the fourth consecutive month in May, as surging prices and low inventory supply pushed some potential homebuyers out of the real estate market.

According to latest data published by the National Association of Realtors, existing home sales fell 0.9% in May to a seasonally adjusted rate of 5.8 million units. However, despite the decline, sales are still up 44.6% year-over-year, when compared to the 4.01 million units that traded hands in May 2020.

Source: NAR

“Home sales fell moderately in May and are now approaching pre-pandemic activity,” explained NAR chief economist Lawrence Yun. “Lack of inventory continues to be the overwhelming factor holding back home sales, but falling affordability is simply squeezing some first-time buyers out of the market.”

The median existing-home price for all types of housing rose to a record $350,300, marking an increase of 23.6% from year-ago levels, as every region across the US reporting some form of price increase. In the meantime, total housing inventory stood at 1.23 million units by the end of May, up by 7% from the month prior, while the average duration of homes sitting on the market remained unchanged at 17 days.

Source: NAR

Information for this briefing was found via the NAR. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Goliath Resources Hits 10.60 g/t Gold Over 22.82 Metres, Highest Grade Results In Third Distinct Rock Package At Surebet Discovery

Four Countries Control the Fertilizer That Feeds the World | Sage Potash

$10,000 Gold Is Just A Question of Time | Florian Grummes

Recommended

Nord Precious Metals Identifies 29 Veins At Castle East Following 3D Modeling

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

Related News

Toronto Home Sales Soar by 52.4% in January Following Increased Activity in Condo Market

The largest housing market in Canada appears to be off to a strong start in...

Monday, February 8, 2021, 02:43:00 PM

Value of Canadian Building Permits Hit $10B for the First Time in February

For the first time ever, the total value of building permits in Canada exceeded the...

Tuesday, April 6, 2021, 10:32:00 AM

Canadian Home Prices Jump 16% in June, Sharpest Annual Gain on Record

According to the Teranet National Bank composite price index, home prices across Canada posted the...

Tuesday, July 20, 2021, 03:49:59 PM

Colliers Canada Survey Reveals 16% of Commercial Tenants Were Unable to Pay May Rent

Colliers International, a Canadian-based global commercial real estate organization, has released recent data regarding the...

Tuesday, June 9, 2020, 05:12:00 PM

Canadian Home Sales Showing Signs of Decline, Falling by 0.7% in October

Canadian home sales posted yet another month of record-strong gains, with sales activity rising by...

Monday, November 16, 2020, 02:12:00 PM