In May, the median existing-home price reached a new record high of $419,300, despite a slip in existing home sales. This comes as a surprise, considering the stronger inventory in the housing market. The industry is closely monitoring these developments to understand the underlying factors influencing this trend.

Key points:
– Median existing-home price hits new record high at $419,300
– Existing home sales experience a slight decline despite stronger inventory
– Industry experts are analyzing the market to uncover reasons behind this unexpected shift.

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