Existing-home sales increased by 3.2% month-over-month and year-over-year, according to the National Association of REALTORS® Existing-Home Sales report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales, price, and inventory. Month-over-month sales increased in the Northeast, Midwest and South, and were unchanged in the West. Year-over-year sales rose in the Midwest, South, and West, and fell in the Northeast. “More Americans are on the move, with home sales rising to the highest level since December. This is great news for the housing market ... (full story)

Sales of previously owned homes rebounded more than expected in May, after mortgage rates pulled back slightly in April. Existing home sales in May rose 3.2% from April to a seasonally adjusted, annualized rate of 4.17 million units, according to the National Association of Realtors. Economists were expecting less than a 1% gain. Sales were also up 3.2% from a year earlier, the strongest pace since December. This count is based on closings, so the contracts were likely signed in April, when mortgage rates came down a bit from the sharp jump at the start of March, due to the war with Iran. “Improving affordability is ... (full story)