US Home Sales Slightly Up in May Amid Record High Prices and Market Challenges
TL;DR Summary
In May, home sales in the US increased slightly by 0.8%, with prices reaching a record high of $422,800, driven by strong demand and increased inventory, despite high mortgage rates. Sales were strongest in the Northeast, and the market shows signs of slowing at the upper end, with homes taking longer to sell and fewer first-time buyers. A potential decrease in mortgage rates could boost sales further later this year.
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