Sales of previously owned homes rebounded more than expected in the United States in May, as the real estate market in the United Kingdom is restrained by economic uncertainty.
According to the latest figures from the National Association of Realtors (NAR), sales of existing homes in the U.S. rose 3.2% from April to an annual rate of 4.17 million homes and were also up 3.2% year over year. The NAR figures are based on closed transactions that reflect contracts signed in April, when mortgage rates were slightly lower.
The number of homes for sale increased 3.3% over April to 1.55 million units, up less than 1%, reflecting 4.5 months’ supply set against a level of six months that is regarded as a good balance between buyer and seller. The tight inventory means that home values continue to rise, with a median price of a home sold in May sitting at $429,300, 1.3% higher than 2025 and a record high price for the month.
Meanwhile, in the United Kingdom, the housing market remains quiet as inquiries, sales, and pricing fell again in May, according to the latest industry survey from the Royal Institution of Chartered Surveyors. After a slow end to 2025, the home sale market enjoyed a steady rebound in the first two months of 2026 until the war in Iran created uncertainty and pushed up mortgage rates.
IAM Member Impact: Although the home sale market remains depressed for the domestic moving industry in the United States and the United Kingdom, sales in the United States continue to be strongest on the higher end of the market, which is favorable to the professional moving industry.