Episode Details

Home sales edged up 3.2% in May, hitting a new record typical price of $429,300, while inventory remains tight but signs of relief appear—lower mortgage rates and slowing price growth, even slight drops in some hot markets, may lure more buyers and sellers back this summer. Experts give the spring market a C-minus, citing geopolitical drag on rates and underwhelming performance, though existing home sales show modest gains. Supply remains critically low at a 4.5-month supply, and forecasts for future sales have been trimmed due to persistently high rates and a sluggish spring. Still, the modest price and sales upticks signal a healthier market as incomes rise faster than home prices, offering a glimmer of hope amid ongoing affordability challenges.

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