Existing-Home Sales on the Rise – NMP Skip to main content

Existing-Home Sales on the Rise

Jun 21, 2017
Baltimore Row Houses Pic

Total existing-home sales were up by 1.1 percent to a seasonally adjusted annual rate of 5.62 million in May from a downwardly revised 5.56 million in April, according to new data from the National Association of Realtors (NAR). May’s sales were 2.7 percent higher on a year-over-year measurement and were the third highest over the past year. 
 
The median existing-home price for all housing types in May was $252,800, up 5.8 percent from the $238,900 mark in May 2016. Last month’s level also surpassed the June 2016 peak of $247,600 to become the highest median sales price recorded by NAR.
 
The total housing inventory ended May at 2.1 percent to 1.96 million existing homes available for sale, which is 8.4 percent lower than a year ago (2.14 million); inventory has been falling on a year-over-year measurement for the last 24 consecutive months. Unsold inventory is at a 4.2-month supply at the current sales pace, down from 4.7 months a year ago. 
 
“Home prices keep chugging along at a pace that is not sustainable in the long run,” said NAR Chief Economist Lawrence Yun. “Current demand levels indicate sales should be stronger, but it’s clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions.”
 
About the author
Published
Jun 21, 2017
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026