- The national inventory of active listings declined by 50.9% over last year, while the total inventory of unsold homes, including pending listings, declined by 20.8%.
- Newly listed homes on the market are up 5.4% nationally compared to a year ago and by 12.4% for large metros over the past year. Sellers are still listing at rates lower than previous years, however.
- The May national median listing price for active listings was $380,000, up 15.2% compared to last year. Large metros saw an average price gain of 7.4% compared to last year.
- Nationally, the typical home spent 39 days on the market in May, 32 days less than the same time last year.
Realtor.com®’s May housing data release reveals that the growth rate in median listing prices has finally slowed after almost a year of continuous acceleration. While this is a good sign for buyers, prices are still rising because inventory remains constrained and the typical home is…