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Existing Home Sales Surge into Summer [INFOGRAPHIC]

John P.R. Lee

Experienced -  A top real estate agent licensed in Maryland and team leader of the Crawford & Lee Team serving Maryland, Virginia, and Washington DC ...

Experienced -  A top real estate agent licensed in Maryland and team leader of the Crawford & Lee Team serving Maryland, Virginia, and Washington DC ...

Feb 8 1 minutes read

Some Highlights:

  • Existing Home Sales reached their third highest mark this year in May.
  • Inventory of homes for sale has dropped 8.4% since last year, marking the 24th consecutive month of year-over-year declines.
  • NAR’s Chief Economist, Lawrence Yun had this to say: “Those able to close on a home last month are probably feeling both happy and relieved. Listings in the affordable price range are scarce, homes are coming off the market at an extremely fast pace and the prevalence of multiple offers in some markets are pushing prices higher.”

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