Home Prices Hit Record High in May as ‘Lock-In’ Effect Crimps Existing Housing Supply

Home Prices Hit Record High in May as ‘Lock-In’ Effect Crimps Existing Housing Supply

The spring housing market is officially over, and home sales fizzled out in the last full month of the season. Sales of existing homes shrank by 0.7% in May compared with April, according to a recent report from the National Association of Realtors®. Sales also fell annually, dipping 2.8% from May 2023 to a seasonally
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