US Home Prices Jump $8,400 in May as Sellers Offer Concessions at Record 46% Rate
US home prices surged in May, with the median sales price jumping $8,400 to $424,900 and the average price rising $39,200 to $540,600. The median's $31,800 gain over the past two months marks the largest increase in four years, while the widening gap between median and average prices reached $115,700, or 27%, as transactions became increasingly concentrated in higher-priced segments.
Despite the rapid price appreciation, the housing market showed clear signs of cooling as 46% of sellers offered concessions to buyers in May, marking a record for the month and doubling the 2022 level. With the market holding a 47% surplus of sellers over buyers alongside a 6.5% average 30-year mortgage rate, buyers are regaining negotiating leverage, though overall housing affordability remains at or near historic lows.
From the sources (9 posts)
@charliebilello10 years ago: 30-yr mortgage rate was 3.6% & average new home price in the US was $350k Today: 30-yr mortgage rate is 6.5% & average new home price is $540k Result: $38k increase in down payment (assuming 20% down) and 115% increa
@charliebilello10 years ago: 30-yr mortgage rate was 3.5% & average new home price in the US was $350k Today: 30-yr mortgage rate is 6.5% & average new home price is $540k Result: $38k increase in down payment (assuming 20% down) and 117% increa
@charliebilelloNote: this cost comparison does not include property taxes/insurance/utilities/repairs/maintenance which have all seen significant increases as well. The average US home is more unaffordable to the average American than ever before. https:
@barchartU.S. Housing Market has reached its most unaffordable level in history 🚨🚨
@kalshiJUST IN: US housing market has reached its most unaffordable level in history
@kobeissiletterBREAKING: The US median home sales price jumped +$8,400 in May, to $424,900, the 2nd-highest since January 2025. Over the last 2 months, the median price has soared +$31,800, the largest 2-month increase in 4 years. Meanwhile, the average
@hedgeyeHomeowner interest costs have surged +35% over the past six years
@polymarketmoneyBREAKING: U.S. home prices record their biggest 2 month increase in 4 years.
@kobeissiletterThe US housing market is now firmly in favor of buyers: 46% of home sellers offered concessions to buyers in May, the highest May reading on record. This percentage has DOUBLED since 2022 and also marks the 2nd consecutive annual increase