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Local Market Review: Closed Sales Rise in April. New Listings, Inventory and Prices Slow

Published Monday, May 23, 2016

Housing data released by MIBOR today shows increased closed sales activity in April alongside another month of tight inventory. Closed sales increased 12.4 percent in April 2016 compared to April 2015 and rose 10.6 percent in the three months ending in April compared to the same three months last year. Pending sales increased, but not to the level experienced in March. Pending sales rose 5.4 percent in April and 11.5 percent for the quarter. New listings decreased 3.8 percent in April, but rose 4.1 for the quarter. Tight inventory continues with months of inventory ticking up just slightly to 3.9 months. More

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