Housing Market Surges Amid Rate Pressure

Housing market surges in May with sales up 3.2% to a four-year high, median prices climbing to $429,300, and inventory rising slightly to a 4.5-month supply. Mortgage rates edged higher to 6.44% but remain below last year’s levels. Affordability is driving momentum, especially in the West, as first-time buyers now make up 35% of sales — up from 33% in April. Homes are selling faster, averaging 29 days on the market. Yet, not all regions are cheering: the Northeast saw year-over-year declines, while consumer sentiment stays low — hinting at a market split between eager buyers and cautious holdouts. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/7667b9a908c15e08