Existing sales climbed 3.2% in May, best since December

Existing home sales rose 3.2% in May to their highest level since December. Steady household income and slightly better affordability (rates were lower then) brought more buyers off the fence. Inventory is still tight, but the fact that closings are ticking up tells you demand is real when buyers can make the math work.

Here's the seller angle: homes priced right are moving faster because there's still more demand than supply in most price bands. Here's the buyer angle: today's average rate is 6.375% (6.424% APR), a tick higher than yesterday but still lower than the recent peak. On a $500,000 loan, that's $3,090 a month. If your buyer's been waiting for rates to fall another half point, remind them that timing the bottom rarely works and inventory gets picked over fast.

I've got the rate sheets and the payment tables. If you need a quick pre-approval or a second look on a tough file, call me. I'll pick up.

Rates shown are today's average California rates as of 6/24/2026, for general information only and not an offer or commitment to lend. Your actual rate and APR depend on your credit, loan amount, down payment, and property, and rates and terms can change at any time. Brett Hickman, NMLS #2010859. Home First Financial, NMLS #2465048. Equal Housing Lender.