Report Highlights

☐ The 3-month-rolling median house sales price hit its highest value since mid-2022.
☐ The number of new listings coming on market in the first 5 months of 2024 rose 28% year over year. As of June 1st, the inventory of active and coming-soon listings was the highest in over 2 years.
☐ The number of home sales year-to-date was up 17%. Luxury home sales were up 58%.
☐ Almost 60% of home sales in May sold over asking price. The average home sale closed at 3.5% over asking price.
☐ The speed of sale in May hit its fastest rate in almost 2 years.

30-year-loan interest rates hovered around 7% in May and early June, which many buyers and sellers have clearly come to accept as the new normal. (And an estimated 30% to 40% of national homebuyers have been paying all cash.) Stock markets once again hit new all-time highs, with substantial effect on household wealth. It is not unusual for home listing and sales activity to slow in summer.