Pending Home Sales Dropped 2.1% in May

Key Highlights Pending home sales decreased 2.1% in May. Month over month, contract signings declined in the Midwest and South but increased in the Northeast and West. Compared to one year ago, pending home sales declined in all U.S. regions.   " data-src="https://www.nar.realtor/sites/default/files

Existing-Home Sales Edged Lower by 0.7% in May as Median Sales Price Reached Record High of $419,300

Key Highlights Existing-home sales slipped 0.7% in May to a seasonally adjusted annual rate of 4.11 million. Sales descended 2.8% from one year ago. The median existing-home sales price jumped 5.8% from May 2023 to $419,300 – the highest price ever recorded and the eleventh consecutive month of year

Instant Reaction: Mortgage Rates, June 20, 2024

Facts: The 30-year fixed mortgage rate from Freddie Mac continued with small incremental declines to 6.87% over the last week from 6.95%. At 6.87%, with 20% down, a mortgage payment on the median-priced existing home of $400,000 is $2,101. Last year, the median downpayment for a first-time buyer was