For the fourth consecutive month, homes sales rose in May, increasing 8.6% from April, and sales remained below 2024 levels, with May sales finishing 3.5% lower year over year.
Across the 52 metro areas surveyed in the report, the number of homes for sale rose 8.3% month over month and increased 34.8% year over year. This marks the 17th consecutive month that inventory has grown year over year. The Median Sales Price also grew nominally year over year for the 23rd straight month to reach $442,000 – an increase of $2,500 (0.6%) from May 2024.
New listings also increased 4.4% from April and 7.9% from May 2024, marking the 15th straight month of a year-over-year increase.
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