One Rental at a Time

Distressed Sales Jump 50%

Distressed home sales headline a 50% jump but rose only from 2% to 3% of transactions and are unchanged from a year earlier. Existing-home sales surprised to the upside, rising 1.7% month‑over‑month to a 4.09 million annualized pace, though still down 1.4% year‑over‑year. Inventory growth was modest (active listings +2.4% reported, +6.9% year‑over‑year in weekly data) while affordability improved for an eighth consecutive month as wages outpaced home-price gains; first‑time buyers accounted for 34% of transactions and investors 16%. Regional inventory swings were large, and mortgage-intent and rate moves indicate demand remains highly rate‑sensitive.