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School’s out, and as vaccination rates rise and America enters a new normal, the U.S. housing market continues along at a frenzied pace, with low interest rates and limited inventory fueling record high sales prices. May saw the median existing-home sales price exceed $350,000, a 24% increase and the largest year-over-year increase since 1999, according to the National Association of REALTORS®. Eager buyers are making multiple offers, some for well over asking price, while others are making offers on homes sight unseen.
New Listings remained flat for Single Family homes but decreased 18.5 percent for Condominium properties. Pending Sales increased 5.1 percent for Single Family homes and 110.2 percent for Condominium homes. Inventory decreased 46.4 percent for Single Family homes and 69.8 percent for Condominium homes.
Median Sales Price increased 44.5 percent to $1,117,500 for Single Family homes and 26.2 percent to $635,000 for Condom ...

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As the weather warms and pandemic restrictions ease across much of the country, the U.S. housing market shows little sign of cooling. Robust buyer demand, fueled by low mortgage rates, continues to outpace supply, which remains near historic lows. Nationwide, inventory remains much lower than it was at this time last year, and sales prices are surging as a result.
New Listings increased 27.7 percent for Single Family homes and 12.3 percent for Condominium homes. Pending Sales increased 57.3 percent for Single Family homes and 231.3 percent for Condominium homes. Inventory decreased 53.9 percent for Single Family homes and 62.2 percent for Condominium homes.
Median Sales Price increased 29.9 percent to $1,039,000 for Single Family homes but decreased 9.6 percent to $615,000 for Condominium homes. Days on Market decreased 0.7 percent for Single Family homes and 12.0 percent for Condominium homes. Months Supply of Inventory decreased 66.0 percent for S ...