U.S. existing-home sales rose 3.2 percent in May to an annual rate of 4.17 million, marking a five-month high for the market. This surge is significant for economists and lenders as it indicates that rising incomes are successfully bringing first-time buyers back into the fold despite high median prices. The sustained momentum suggests a stabilizing housing sector, though persistent supply constraints continue to push property costs to record levels for the season.
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Ali NematiWritten by Ali
