Preview: Due June 9 - U.S. May Existing Home Sales - Some positive signals
We expect May existing home sales to increase by 2.0% to 4.10m, extending a marginal 0.2% increase in April but still not fully reversing March’s 2.9% decline. This would bring the first yr/yr increase since October 2025, by 1.5%, following a flat April.
April pending home sales saw a third straight increase after hitting a record low in January. May’s NAHB homebuilders’ index recovered after a dip in April. The MBA house purchase index averaged slightly higher in May than April, but was losing momentum late in the month, as mortgage rates increased.
We expect May existing home sales to see increases in all four regions, though the West has the most potential to bounce after a weak April. We expect a 2.0% seasonal incase in the median price, though that would see yr/yr growth slip to 0.6% from 0.9% in April.
