My opinion is that this is a fluke spike in sales in May from people trying to close sales and lock in lower interest rates that were in effect back then.
I would guess that sales for June will be sharply down as a result of increased mortgage rates.
But then as my wife likes to continuously remind me, I could be wrong.
This is what happens when you illegally import 14 million more asses into the country. People have to live somewhere so some will choke down the higher interest rates.