US Housing Market Shows Strong Rebound in May with Surging Home Sales

Charles Schwab suggests that the US housing market is rebounding based on three key indicators. Firstly, homebuilder sentiment has moved into positive territory for the first time in 11 months. Secondly, new home sales have increased, while existing home sales have only marginally improved. Lastly, home prices have fallen, making properties more affordable, although overall affordability remains poor. However, experts believe that affordability conditions won't improve until mortgage rates decrease, which is unlikely to happen soon.