The inventory of for-sale homes grew in May by 3.5 percent, which marks the biggest monthly increase of the year, according to the latest housing data from Realtor.com. However, overall inventories dropped 14.3 percent compared to a year ago at this time.
Median asking prices for homes were down last month, falling 1.6 percent which follows two months of increases, the data shows.
Some of the largest declines were seen in Chicago and Tampa, Fla, where asking prices were down 5.7 percent from April, and in Phoenix prices were down 5.4 percent.
Listing prices increased in only 10 of the 146 markets tracked by Realtor.com. Denver and Washington, D.C., posted some of the largest listing price increases.
The National Association of REALTORS® will release next week its report on sales and inventory of existing homes.
For your Broken Arrow, OK. residential real estate needs, contact Kelly Howard, McGraw Realtors, 918-230-6341 or www.kellyhowardhomes.com.
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