Single-family home sales were down 10.4 percent year-over-year, the 14th consecutive month of slowing sales volume but the lowest rate of decline since June 2022, suggesting market conditions improving
Compared to pre-pandemic 2019, single-family home sales were down just 1.3 percent, however they were up 6.4 percent versus the volume five years ago, in May 2018;
Days on Market (DOM) for single-family homes rose from 30 to 48 days;
Total property sales fell 12.5 percent with 10,476 units sold;
- The single-family average price fell 1.6 percent to $431,378;
- Single-family home months of inventory registered a 2.8-months supply, up from 1.5 months a year earlier;
- The year over year Townhome/condominium average price is down 3.7 percent to $262,015.