Solid Sales Growth and Moderate Price Appreciation Continue in May
May marks the beginning of the traditional peak season for home sales, with approximately 43% of annual closings taking place between May and August in a typical year.
May 2024 home sales rose 11% compared to May 2023, and the median price rose to $315,500, which is a 6.9% increase over the past 12 months.
On a year-to-date basis, home sales were 12.1% higher than the first five months of 2023, and the median price rose 7.3% to $295,000 over that same period.
|