landsman news roundup

Associated Press: The average long-term U.S. mortgage rate edged higher this week, staying close to 6.5%, where it’s been the last six weeks. The benchmark 30-year fixed rate mortgage rate rose to 6.49% from 6.47% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.77%.

National Association of Realtors: Existing-home sales increased by 3.2% in May 2026. Month-over-month sales increased in the Northeast, Midwest and South, and were unchanged in the West. On a year-over-year basis, sales rose in the Midwest, South, and West, and fell in the Northeast. “More Americans are on the move, with home sales rising to the highest level since December. This is great news for the housing market and the economy,” said NAR Chief Economist Dr. Lawrence Yun.

Make My Move: After several years of elevated home prices and interest rates, 2026 is shaping up to be a turning point for first-time homebuyers. While affordability challenges persist, economists expect wages to begin outpacing home-price growth for the first time since the post–Great Recession era.

Realtor.com: The Phoenix market shifted noticeably in buyers' favor last month. The median listing price dropped 6.0% year-over-year to $469,838, active inventory grew, and nearly 30% of listings carried a price cut. If you're buying now, you have more options and more leverage than this market has offered in years.

ArizonaRealEstate.com: Here you'll find statistics on residential listings in Arizona and surrounding communities, updated every day from the MLS, including the average price, average days on market, average price reduction, and more.