In May, the real estate market showed remarkable resilience with the 3-month-rolling median house sales price rising 4% year-over-year, the highest since mid-2022. Active and coming-soon listings surged by 36% year-over-year, reaching a two-year high. Home and luxury home sales also hit their highest monthly counts since mid-2022, with over 50% of sales exceeding asking prices by an average of 2%. Despite 30-year loan interest rates around 7%, buyers and sellers are adapting, with 30% to 40% of homebuyers paying all cash. Stock markets reaching new highs further boosted household wealth, though summer may bring a typical slowdown in activity.

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