Episode Details

Pending home sales surged 3.8% in May—surpassing expectations despite mortgage rates near 6.5% and inflation at a three-year high. The uptick was nationwide, led by the Northeast (8.7%) and Midwest, with gains also seen in the South and West. Buyers are proving more resilient than predicted, even as affordability remains a major barrier, limiting access to higher earners and potentially reducing inventory as sellers hold back. Summer’s true test will be how inflation and global uncertainty shape the market.

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