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May Home Sales Barely Move as High Mortgage Rates, Prices, Weigh on Housing Market
UNITED STATES, JUN 23 – Median U.S. home price rose 1.3% year-over-year to $422,800 in May while sales fell 0.7% amid affordability challenges and increased inventory, experts said.
- In May 2025, sales of existing homes in the U.S. increased by 0.8% compared to April, reaching an annualized total of approximately 4.03 million homes, based on data from the National Association of Realtors.
- This slight increase followed a big jump in home supply, slower newly pending sales in April, and economic uncertainty tied to trade tariffs announced earlier this year.
- Home sales rose in the Northeast, Midwest, and South but fell 5.4% in the West, while 31% of listings in the Las Vegas Valley had price cuts through May.
- Zonda reported 682,290 new homes sold seasonally adjusted in May, down 0.9% from April, with 38% of builders lowering prices and median existing home prices up 1.3% year over year to $422,800.
- Experts warn persistently high mortgage rates and limited price movement suggest the housing market will likely remain stagnant despite increased inventory and some buyer advantages.
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Coverage Details
Total News Sources87
Leaning Left18Leaning Right11Center29Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 31%
C 50%
R 19%
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