NYSAR: Monthly Indicators - May 2021

Market Report provided by NYSAR

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 were up 49.2 percent to 19,766. Pending Sales increased 91.3 percent to 15,775. Inventory shrank 18.5 percent to 40,776 units