Stable economic conditions and increased home inventory boosted May home sales, rising 3.5% from April and 0.9% year-over-year. Lower mortgage rates and more options favor buyers, but affordability challenges persist, with many finding renting cheaper than buying starter homes. Home values fell in 22 of 50 major metros, and sellers cut prices on 26% of listings. Renting remains financially attractive as rent growth slows and mortgage costs decline.
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