May '25 - inventory STILL rising....

[Kenny Smith]

🏡 May ‘25 - inventory STILL rising....😳

✅ Total Actives - 13,044, UP 36% year over year
✅ New Listings - 6,978, UP 4% year over year
✅ Pendings - 4,227, UP 10% year over year
✅ Median Days on Market - 13, UP 62% year over year
✅ Median Home Price - $599,000 FLAT year over year

Again, active listings still leads the way with the biggest stat change. We went over 13k units on market for the first time since Nov ‘12.

New listings have been substantially up throughout this year. However, this month was only up 10%, which has slowed, possibly because sellers are starting to realize the market continues to slow. 📉

Pendings are still only slightly up at this point compared to last year.

Median Days on Market continues to have a wide gap compared to last year.

There has not been hardly any change in the state of the economy/mortgage rates to jump start the market. As we’ve talked about, if all things remain constant, so will these downward trends....