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Local Market Review: Closed Sales Rise 18 Percent in May

Published Tuesday, June 21, 2016

Housing data released by MIBOR today shows increased activity in closed and pending sales along with steady price gains alongside another month of tight inventory. Closed sales increased 18.6 percent in May compared to May 2015 and rose 13.8 percent in the quarterly comparison. Pending sales showed another month of increases climbing 5.7 in May and 8.9 for the three months ending in May. New listings fell 1.9 percent for the month and stayed even up just 0.7 percent the quarter. Tight inventory continues with months of inventory at 3.9 months. More