Jun. 23 at 8:36 PM
$SPY $RKT $RDFN $COOP $UWMC Weakest May sales since 2009. The higher supply has failed to bring down prices. The median sales price last month increased 1.3% YoY to
$422,800, the highest for any May on record.
First-time buyers made up 30% of closings in May, showing they are struggling to get into the market.
Realtors are asking if hedge funds, which make up big share of buyers in Sun Belt states, have been dumping homes on the market lately, causing recent price fluctuations.
