A Philadelphia broker says well-priced homes are still drawing competitive offers
An increase in national existing-home sales last month provided relief at last for many home sellers who’ve been waiting impatiently through 2026 for an upturn in market activity.
New data released by the National Association of Realtors (NAR) showed sales were up 3.2% in May compared with April, with transactions hitting their highest level since December as more buyers moved off the sidelines.
That trend, which emerged despite sticky mortgage rates and an uncertain economic outlook, is a welcome one for sellers who have reportedly been struggling to shift their properties in a down market.
Last week, Redfin reported that 5.8% of all home listings were removed from the market in April, the joint-highest share of delisted homes since the COVID-19 pandemic erupted in the US in March 2020.
Still, the latest figures suggest buyers remain engaged and ready to push ahead with a purchase even despite the economic volatility – if the right property is available.
Yury Shraybman (pictured top), a mortgage broker with Innovative Mortgage Brokers in Philadelphia, told Mortgage Professional America there was still plenty of interest in quality, well-priced homes in his area.
“From what I’m seeing on my end, delistings have not been a noticeable issue in my market, and I have not heard agents I work with raising it as a major concern either,” he said.
“What I am seeing locally is that well-priced homes are still moving quickly and often receiving competitive offers, including offers above asking price.”
Buyers are also tapping into a market that’s less chaotic than at the height of the COVID-19 pandemic, he said, when low interest rates and pent-up savings sparked a homebuying frenzy across much of the country.
“The market does feel a little less frantic than it was earlier, and buyers may have slightly more room to breathe,” he said. “Some properties are sitting a few days longer, and in certain situations it may be a little easier for buyers to get an offer accepted.”
Mortgage rates have ticked steadily upwards since the beginning of the US-Israel-Iran war at the end of February, leading some hopeful homebuyers to put their purchasing plans on ice.
But average rates are still lower than they were a year earlier, NAR chief economist Lawrence Yun emphasized Tuesday, while income gains have also been outpacing home price growth “by a small margin” across much of the US.
First-time buyers have been increasingly active in the current market, according to the NAR. In May, they accounted for 35% of all purchases – an increase from 33% a month before and 30% in May 2025.
Inventory edges up but supply remains constrained
The NAR data also pointed to a modest improvement in inventory levels, with available supply edging up 3.3% from April to 1.55 million units – equivalent to 4.5 months of supply. That figure is marginally below the 4.6 months recorded a year earlier, illustrating how slowly the supply picture has shifted.
A normalized market is typically characterized by five to six months of supply, meaning available homes remain well short of that threshold. For mortgage professionals, the persistent inventory constraint continues to shape buyer conversations around timing, competition, and rate-lock strategy, even as demand shows signs of cautious recovery.
Life events keep buyers active despite higher rates
While many in the industry believe that the market won’t truly begin to stir until rates slip below the 6% mark, the latest figures show that there’s still a solid cohort of homebuyers who are ready to move even with average rates in the sixes.
Shraybman said many are pushing ahead because it makes no sense to sit on the sidelines and wait for the perfect moment to enter the market.
“A lot of buyers are purchasing because of life events such as marriage, growing families, needing more space, relocation, or simply being ready for the next stage of life,” he said. “Those buyers are still active, even with slightly higher rates.”
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