Home sales decreased year over year.
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.3 million in May, up 2.5 percent from April and 1.1 percent below the 5.4 million sales pace from a year ago.
Home prices have continued to increase year-over-year.
The median home price increased to $277,700 in May, up 4.0 percent from April. The median home price has increased by approximately $12,600 in the past year alone.
Inventory – Month’s Supply
There was a 4.3-month supply of housing inventory in May 2019, up 2.4 percent from April. The total number of available homes for sale has increased by 4.9 percent compared to May of last year.
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