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Home sales and new listings drop as mortgage rates exceed 6.5%, slowing the housing market in May 2026

Market News
04 Jun 2026
PRNewsWire
View Source
Bearish
pluang ai news

In May 2026, U.S. home sales and new listings declined compared to last year, influenced by rising mortgage rates surpassing 6.5%. New listings fell 4.1% year-over-year, and sales dropped 2.9%, despite a slight monthly sales increase. Inventory growth continued but slowed, with typical home values rising modestly to $368,720, pushing mortgage costs slightly higher. Experts suggest this trend may lead to slower sales in the latter half of the year as buyer options peak early.

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