US existing-home sales rose 2.8% in May to the highest level since October 2022, driven by a brief dip in mortgage rates, high buyer leverage, and strong demand in certain markets. However, pending sales remained flat as rates climbed again, reducing buyer power. Inventory reached a six-year high, with prices rising 2% year over year. Discounts are shrinking, and sellers are pricing more realistically amid ongoing market uncertainty.
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