BUSINESSWTOP DC
US home sales surge to the fastest pace this year despite rising mortgage rates and prices
Existing U.S. home sales rose 3.2% in May to a 4.17 million annual rate, exceeding expectations despite higher mortgage rates. The median home price hit a record $429,300, while affordability improved due to slower price growth relative to incomes. Sales increased in the Midwest, South, and West but declined in the Northeast.
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- US home sales surge to the fastest pace this year despite rising mortgage rates and prices
- Home sales surged in May to the highest level since December
- U.S. existing home sales surged in May to their highest level since December
- May home sales unexpectedly surge to highest level this year: ‘More Americans are on the move’
- US New-Home Sales Increased in March to Fastest Pace of Year