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June 10, 2026

Home sales surge to the fastest pace this year despite rising mortgage rates and prices

  • First-time buyers accounted for 35% of home purchases last month, the highest share since June 2020.
    • By ALEX VEIGA
    AP Business Writer

    Sales of previously occupied U.S. homes accelerated last month to their fastest pace since December, a sharp turnaround in demand after a lackluster start to the spring homebuying season.

    Existing home sales rose 3.2% in May from the previous month to a seasonally adjusted annual rate of 4.17 million units, the National Association of Realtors said Tuesday. Sales also rose 3.2% compared with May last year.


     
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