Housing Market News

Home Sales Hit High Speed as Price Growth Taps Brakes

In May homes sold at their fastest pace in nearly two years, with the typical property on the market only 28 days, down from 32 in April. Last month, 35.6 percent of homes went under contract within two weeks of their debut, just shy of the peak rate of 35.8 percent exactly two years ago. For the last three years there’s been a double-digit spike in homes sold; this year, an inventory shortage has kept a lid on that growth.

Home Sales Hit High Speed as Price Growth Taps Brakes

In May homes sold at their fastest pace in nearly two years, with the typical property on the market only 28 days, down from 32 in April. Last month, 35.6 percent of homes went under contract within two weeks of their debut, just shy of the peak rate of 35.8 percent exactly two years ago. For the last three years there’s been a double-digit spike in homes sold; this year, an inventory shortage has kept a lid on that growth.

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