May’s numbers are in, and the housing market is keeping up its steady clip. We aren’t looking at a massive breakout, but the seasonal shift is bringing more properties into play.
According to the National Association of Realtors (NAR), existing home sales totaled 390,000 in May. That is flat year-over-year compared to May 2025, but it represents a solid +9.6% increase from April’s revised numbers.
The biggest metric for your inspection pipeline right now is inventory. Active listings climbed to 1.55 million units in May, according to NAR, which is up +3.3% from April. Even better, Zillow tracked 1.36 million active listings, a +1% gain over last year that marks 30 consecutive months of annual inventory growth. More available homes give buyers more options and give you more opportunities to book jobs.
Prices are holding onto their gains. NAR reported the national median existing home price at $429,300 – a +1.3% increase over last year and the 35th month in a row of annual gains. On the financing side, Fannie Mae and the Mortgage Bankers Association (MBA) continue to project 30-year mortgage rates to hover in the mid-6% range through 2026 and 2027, with Fannie Mae expecting a 6.3% average for both years.
Current Forecasts
Forecasts for 2026 Home Sales (June ’26 forecast)
- NAR: +4.0% (4.22 million existing home sales vs. 4.06 million) – revised April 2026
- MBA: +3.1% (4.90 million total home sales vs. 4.75 million)
- Fannie Mae: +1.3% (4.81 million total home sales vs. 4.75 million)
- Zillow: -0.4% (4.04 million existing home sales vs. 4.06 million)
Forecasts for 2027 Home Sales (June ’26 forecast)
- MBA: +6.8% (5.23 million total home sales vs. 4.90 million)
- Fannie Mae: +6.6% (5.13 million total home sales vs. 4.81 million)
MBA Forecast for Mortgage Originations (June ’26 forecast)
- 2026 Total Mortgage Originations: +4.4% (5.70 million loans vs. 5.46 million)
- Purchase: +3.5% (3.57 million loans vs. 3.45 million)
- Refi: +6.0% (2.13 million vs. 2.01 million)
- 2027 Total Mortgage Originations: -0.4% (5.67 million loans vs. 5.70 million)
- Purchase: +4.8% (3.74 million loans vs. 3.57 million)
- Refi: -9.1% (1.94 million vs. 2.13 million)
Bottom line for inspectors
The market is holding steady, but the inventory trend is what’s keeping things promising. More available houses mean more chances for buyers to make offers and call you out for an inspection. With interest rates expected to hold in the mid-6% range, buyers may remain cautious and protective of their investment, which means your field work and clear reporting are as critical as ever. Keep your process dialed in and your gear ready to roll.