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May 2024 Market Stats

U.S. existing-home sales fell for the second month in a row, sliding 1.9% monthover-month and 1.9% year-over-year, according to the National Association of REALTORS® (NAR), with sales down in all four regions of the country. Higher borrowing costs and accelerating home prices continue to weigh on demand, pushing some prospective buyers to the sidelines and causing market activity to slump ahead of summer.

  • New Listings were up 13.2 percent to 413.
  • Pending Sales decreased 5.9 percent to 301.
  • Inventory grew 33.7 percent to 983 units.
  • Prices moved higher as Median Sales Price was up 6.4 percent to $302,500.
  • Days on Market increased 7.4 percent to 73 days.