But wouldn’t you expect that in May?
The National Association of Realtors® released its monthly statistics on national home sales today. In sum: May was better than April in terms of volume of sales, but not better than May 2013. The May median price was over 5% higher than May 2013.
Inventory is rising and unsold inventory is 6% higher than one year ago. That’s not enough to meet projected demand, so prices are likely to continue to rise, but the price increases will moderate because of the higher available inventory. Also, interest rates are higher, though not enough to be a drag on housing yet.
Here is the NAR Press Release: Existing-Home Sales Heat Up in May, Inventory Levels Continue to Improve
Here is the MarketWatch.com blurb: Existing-home sales highest in seven months – Economic Report – MarketWatch.
Here’s the Flagstaff home sales report for May: Monthly Flagstaff Home Sales Report