Home sales last month rose to their highest level of the year, according to new figures just released by the National Association of Realtors, suggesting a robust spring economy.
In a statement, Lawrence Yun, NAR chief economist, described the new numbers as “great news for the housing market and the economy.”
The latest numbers show both a 3.2% increase in existing sales between April and May, along with another 3.2% increase in homes sales between May of this year and May of last year.
“The pickup in sales last month,” observes the Wall Street Journal, “is a reminder that many buyers are ready to transact when supply expands and affordability conditions ease.”
The improved figures, for the most part, were cross-regional, with the Northeast seeing a 2.2% increase over April, representing an annual rate of 460,000 units; and the Midwest experiencing a very healthy 6.4% jump during that same period, for 1 million units.
The news in the South was also encouraging, seeing a 3.2% jump for just under 2 million units. Only in the West, which in the past year has seen solid sales, did the May figures show no improvement over April, representing an annual rate of 750,000 units.
Overall, the median sales price rose to just over $729,000, the highest such reading to date for the month of May on record.
Yun described what he called the “new record-high” May home prices as reflecting “solid fundamentals for homeowners and ongoing supply constraints.” The economist additionally noted that currently only 1% of the total home sales “involved a foreclosure or an underwater situation in which the sale price could not cover the outstanding mortgage balance.”
“This,” continued Yun, “shows that homeowners are on solid financial footing.”
The residual impact of the new numbers, added Yun, is pretty good, too: “Lawn care, furniture purchases, moving services, mortgage originations, and other related business activities all get a boost.”
June 16, 2026
By Garry Boulard
Graphic courtesy of Pixabay
