Homes sales slowed slightly in May

Homes sales slowed slightly in May

Home sales slowed slightly in May.

The California Association of Realtors said today, “After months of breakneck market competition competition, California home sales moderated in May as buyer fatigue set in, while the median price set another record high,”

In May, single-family homes sales were 445,660, down 2.7% from April and up 86.7%$ from May 2020 (statistics provided by C.A.R. website)

The statewide median home price was $818,260 up .5% from April and up 39.1% from May 2020.

According to C.A.R. President Dave Walsh, “The overheated housing market is showing signs of a much-needed cooling and could be a sign of waning buyer interest as the torrid place of home price increases and buyer faitgue adverselyh affected demand,” He added, “We’re seeing many would-be buyers taking a break and hoping to see more listings as the economy reopens and prospective sellers list their homes for sale,”

See also  Economy/Housing Market Improve