U.S. Home Sales Rise Despite Higher Mortgage Rates

In the current US market, existing-home sales reached a ~4M annual pace, up modestly MoM while remaining slightly below the yearly level.
Median price reached $417.5K, extending a long yearly gain streak, while inventory rose to 1.6M homes and supply stayed at 4.8 mo.
Closings reflected contracts signed when rates were lower, but financing costs later moved above 7%, making budgeting more important for buyers nationwide currently.
First-time buyers took 31% of sales, cash deals eased, and single-family homes outperformed condos as listings sat longer on market in the current environment.
For the rest of 2026, the market was expected to stay slow, with flatter pricing and more negotiating room as conditions gradually favored buyers.