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

U.S. existing-home sales jumped 3.2% in May to a 4.17 million annual pace — the fastest since December — signaling a spring rebound in demand.
Median home price hit a May record of $429,300, yet price growth is softening vs. income and affordability has improved as mortgage rates sit below last year’s levels.
First-time buyers made up 35% of sales (the highest since mid-2020) and inventory is slowly rising, but remains well below pre-pandemic supply.