Existing home sales continued to slow—returning to 2019 levels—in May while sales prices continued their upward climb, according to the National Association of Realtors.
NAR also reported that the median sales price topped $400,000 for the first time. At $407,600, that represents a 14.8% increase from one year ago and made it an ongoing record 123 consecutive months of year-over-year increases.
NAR Chief Economist Lawrence Yun commented on the recurring trends, including four consecutive months of sales declines.
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