In May 2024, existing-home sales in the US slightly decreased, with the median sales price reaching a record high, according to the National Association of REALTORS®. Sales declined in the South but remained steady in the Northeast, Midwest, and West. The total inventory of existing homes increased, offering hope for more choices for buyers. The median price for existing homes rose to $419,300, the highest ever recorded. Chief Economist Lawrence Yun mentioned that increasing inventory could help stabilize home prices in the future. First-time buyers made up 31% of sales, and all-cash transactions accounted for 28%. The 30-year fixed-rate mortgage averaged 6.87%, up from the previous year. The market saw decreases in single-family home sales and condominium/co-op sales. Despite challenges, the real estate market continues to attract buyers with the long-term benefits of homeownership.