This is the first month in many in which we saw inventory and new listings actually increase. This is good in that it is giving buyers more options to choose from, but our new listings are still down 15.6% compared to last year.
Pending sales, which are a great forward indicator, jumped 53.6% which will be a tremendous boost to closed sales next month. Days on the market seem to be holding steady, and sales prices declined marginally. Overall, May’s market data is bringing much positive news to be excited about!