Sales Spike in 19 Major Metros in May
Home Prices: Gains in home prices and sales surged in May, while inventory increased for the second straight month, according to Redfin’s most recent housing market report based on 19 markets across the country.
In May, home prices surged 17.4 percent year-over-year, while prices in all 19 markets tracked showed yearly gains, the brokerage found. From April to May, prices increased 4.3 percent.
National housing indicators are being led by strong regional markets experiencing key growth, as seller supply begins to respond to consumer demand mirroring on a micro scale, indicating a slower but steady national trend towards sustainable market recovery. As the spring homebuying season transitions into summer, some regions across the nation are seeing month-over-month inventories replenishing above usual seasonal patterns as sellers begin to respond to pent up demand. Utah rank 7th in the fastest growing economies by State.
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