AI Data Insight
US existing multi-family home sales (seasonally adjusted) recorded 360,000 units in May, a slight decline from 370,000 units in the previous month, failing to keep pace with the overall housing market's growth. Although total existing home sales nationwide hit a five-month high driven by first-time buyers, high mortgage rates and persistently high home prices continue to suppress buying sentiment for multi-family homes. In the short term, the housing market remains highly sensitive to interest rate fluctuations, and sales momentum in the coming months may face challenges.