Nationally, the median list price slipped 2.4%, marking the eighth month in a row of declines. 

The uptick was driven by a slight dip in mortgage rates. 

S&P Dow Jones Indices noted that inflation outpaced national home-price appreciation for the 11th month in a row. 

Home sales in the 51 metro areas surveyed by REMAX rose 7.9% month over month and slid 0.5% year over year. 

The increase was driven by refinancing activity as purchase applications dipped. 

May brought a flurry of activity to the Houston market as new-home sales surged to 2,169, up from 1,958 the month prior, according to the latest data from HomesUSA.com.

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The 3.8% month-over-month gain was almost four times what industry observers were expecting. 

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May’s priciest Houston-area home sale was a $10.5 million estate built just last year.

Inventory rose 3.3% month over month and 0.6% year over year to 1.55 million homes, which equals a 4.5-month supply of unsold inventory, NAR said. 

Nationwide, it takes six years to break even on homeownership, down from an all-time high of 8.4 years in 2023.

Amid what Realtor.com called the most active spring in years, the housing market is finding a new equilibrium.

Looking ahead, Cotality expects home prices to rise 5.3% between April 2026 and April 2027. 

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The median sales price of new homes sold in April rose 8% to $422,500 from $391,100 in March, the U.S. Census Bureau and the Department of Housing and Urban Development reported.