Total existing home sales increased 3.2% to a seasonally adjusted annual rate of 4.17 million in May, the highest rate since December 2025 but still historically low, according to the National Association of Realtors and the National Association of Home Builders. Year-over-year, sales rose 3.2%.
Additionally, more first-time home buyers entered the market and claimed a 35% share in May, the largest percentage since June 2020. Nonetheless, existing home sales remained weak compared with historical norms as limited inventory continued to inflate home prices.
The existing home inventory was at 1.55 million units in May, a 3.3% increase from April and up 0.6% from last year. The median sales price of all existing homes was $429,300, a year-over-year increase of 1.3%. The median number of days homes stayed on the market was 29, down from 32 days in April and up from 27 days in May 2025.
Regionally, monthly existing home sales increased in the Midwest (+6.4%), South (+3.2%) and Northeast (2.2%), and remained unchanged in the West.
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