Home Listings Increase by 3.9% and Homes on The Market Grow Nearly 20% in May
Donald Horne, Broker / Owner, Team Success Listing LLC
The latest Realcomp report reveals some key shifts in the real estate market, offering insights for both buyers and sellers. In May, new listings increased by 3.9% year-over-year, bringing fresh options for buyers who’ve been waiting for more inventory. Even more notably, the total number of homes on the market rose by 19.6%, signaling a potential softening in what has been a tight housing market.
At the same time, closed sales fell by 4.5%, and pending sales dipped 1.3%, indicating buyer hesitation as more options emerge. This may be due to rising prices or simply a seasonal adjustment. However, home values remain strong, with the median sale price increasing by 3.6% over May of last year.
One metric to keep an eye on is the average days on market, which rose by four days to 34. This slight increase suggests homes are taking a bit longer to sell, giving buyers a little more breathing room—and perhaps more negotiating power.
For sellers, pricing your home correctly and making it show-ready are more important than ever as competition grows. For buyers, the increased inventory could mean better selection and less pressure to make hasty offers.
Whether you’re planning to list or looking to purchase, now is a smart time to assess your goals and strategy. As the market evolves, working with me as your local real estate broker can help you navigate these trends and make informed decisions.
Have questions about your home’s value or buying strategy?
Reach out to me today for all your real estate needs and move one step closer to your new home.
Donald Horne / Broker-Owner
Team Success Listing LLC
teamsuccesslisting@gmail.com / 1-810-338-0628
https://www.teamsuccesslisting.com
https://bit.ly/WhyClientsChooseUs
https://bit.ly/MyBusinessCardDigital