U.S. existing-home sales rose 3.2% month-over-month and 3.2% year-over-year in May to a seasonally adjusted annual rate of 4.17 million. Sales rose month-over-month in the Northeast, Midwest and South and were unchanged in the West, while year-over-year sales increased in the Midwest, South and West and fell in the Northeast, according to National Association of Realtors.
Total housing inventory in May stood at 1.55 million units, up 3.3% from April and up 0.6% from May 2025, representing a 4.5-month supply of unsold homes that was unchanged from April and slightly below the 4.6 months recorded one year earlier.
The median existing-home price for all housing types was $429,300 in May, a 1.3% increase from one year earlier and the 35th consecutive month of year-over-year price gains. The Housing Affordability Index registered 105.6, up from 97.5 a year ago, with year-over-year affordability improving across all regions: Northeast up 5.1%, Midwest up 6.6%, South up 8.4% and West up 11.0%.
Single-family home sales rose 3.5% month-over-month to a seasonally adjusted annual rate of 3.8 million, up 3.3% from May 2025, with a median single-family price of $434,300, up 1.3% year-over-year. Condominium and co-op sales were unchanged month-over-month at a 370,000 annual rate and rose 2.8% from last year, with a median price of $378,200, up 1.7% from May 2025.
By region, the Northeast recorded a 2.2% month-over-month gain to a 460,000 annual rate but was down 8.0% year-over-year with a median price of $534,900, up 4.2% from May 2025. The Midwest posted a 6.4% month-over-month increase to a 1.0 million annual rate, up 2.0% year-over-year, with a median price of $336,300, up 2.8% from last year. The South saw sales rise 3.2% month-over-month to a 1.96 million annual rate, up 5.9% year-over-year, with a median price of $373,100, up 1.1% from May 2025. The West was unchanged month-over-month at a 750,000 annual rate and rose 5.6% year-over-year, with a median price of $625,900, down 0.7% from May 2025.
The REALTORS® Confidence Index showed a median time on market of 29 days, down from 32 days last month but up from 27 days in May 2025. First-time buyers accounted for 35% of sales, cash transactions were 25% of purchases, individual investors and second-home buyers made up 14% of transactions, and distressed sales (foreclosures and short sales) represented 1% of transactions.