Existing-Home Sales In May Reached Their Highest Level Of 2026

At a Glance:

• In May 2026, existing-home sales rose by 3.2% compared to the previous year, marking the highest level of 2026.¹
• Existing home sales in May 2026 rose by 3.2% over April 2026.
• Year-over-year sales of existing homes increased in the Midwest, South, and West, but fell in the Northeast.²
• Housing inventory reached 1.55 million units in May 2026, a 3.3% increase over the previous month.³

Sales of existing homes climbed to their highest level of 2026 in May, reaching a seasonally adjusted annual rate of 4.17 million.⁴ This marks a 3.2% year-over-year increase, surpassing economists’ expectations of less than 1% growth.⁵ On a monthly basis, sales also rose by 3.2% from April, signaling renewed activity as the summer homebuying season begins.⁶

In this edition of Ameris Bank’s Mortgage Monitor, we take a closer look at what’s driving this improvement in existing-home sales and explore the factors that may shape housing market activity in the coming months.

The Significance of Existing-Home Sales Data

Existing-home sales data, which account for around 90% of all residential transactions,⁷ offer valuable insights into housing demand, pricing trends, and overall market health. Monitoring the sales of existing homes can help potential buyers, real estate investors, and sellers understand broader real estate trends.

“A strong performance in existing-home sales, such as the one we observed in May 2026, typically reflects steady buyer demand and improving market conditions,” said Brett Hively, Senior Vice President, Mortgage Capital Markets and Financial Strategist at Ameris Bank. “Conversely, slower activity can point to affordability pressures or broader economic uncertainty.”

By The Numbers: Existing-Home Sales in May 2026

In a development that exceeded many expectations, the U.S. housing market experienced a notable uptick in May. Existing-home sales reached their highest level so far this year, rising 3.2% year over year, reaching the highest level recorded in 2026.⁸ Monthly gains were equally strong, with sales increasing 3.2% compared to April.⁹

Sales of existing homes showed a positive year-over-year trend in various regions across the United States. There was a notable increase in home sales in the Midwest, South, and West, while sales declined in the Northeast.¹⁰

Can The Momentum Continue?

Whether this upward trend continues through the summer remains uncertain. Housing market activity is influenced by a range of factors, including economic conditions, consumer confidence, energy prices, and geopolitical developments.

There are, however, some supportive indicators. As of June 12, 2026, the average rate for a 30-year conforming loan was 6.476%, down from 6.781% a year ago.¹² 

Inventory trends also point to some improvement in market conditions. In May, the number of homes available for sale rose to 1.55 million, a 3.3% increase from April.¹²

“An increase in available inventory can provide buyers with more options and help ease some of the supply constraints seen in recent years,” Hively added. “More balanced inventory levels are an important component of a stable housing market.”

Working with a Lending Partner in a Changing Market

As market conditions continue to change, partnering with an experienced lender can help borrowers and referral partners navigate available financing options with confidence. Ameris Bank offers a diverse range of mortgage solutions designed to meet a variety of home financing needs, supported by a team dedicated to guiding clients through every step of the process. 

Sources:
^{1, 2, 3, 4, 5, 6, 8, 9, 12} https://www.cnbc.com/2026/06/09/home-sales-surged-in-may-to-the-highest-level-since-december.html
⁷ https://www.interactivebrokers.com/campus/trading-lessons/existing-home-sales/
¹⁰ https://www.nar.realtor/newsroom/nar-existing-home-sales-report-shows-3-2-increase-in-may
¹¹ https://www2.optimalblue.com/obmmi

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Ameris Bank does not endorse nor is affiliated with the companies listed in this article.