🚨 Unexpected Volatility in the Housing Market! May’s housing sales data has been released, showing performance above market expectations. Here are the key highlights: ⏰ Sales Volume: Existing home sales rose 3.2% month-over-month in May, reaching an annualized rate of 4.17 million—surpassing the market expectation of 4.05 million and marking the highest level since December. ⏰ Home Prices: The median home price increased 1.3% year-over-year to $429,300, setting a new record for May. ⏰ Inventory Levels: Unsold home inventory remained steady at a 4.5-month supply, indicating continued tight supply conditions in the housing market. NAR’s Chief Economist, Dr. Lawrence Yun, noted that rising sales signal a positive trend for both the housing market and the broader economy, while the price increases reflect strong fundamentals and persistent supply constraints in the market.