Home Prices Shot Up in May As Sales Hit 4-Year High

May’s housing market has good news for everyone. Good news for buyers: For-sale home inventory increased in May for the second straight month. Good news for sellers: prices shot up and home sales hit a four-year high. There are some early signs that the market may be cooling slightly, but for now things are still hot. The key metrics across 19 major metropolitan markets are:

  • Home prices in May increased 17% year over year, and rose 4% since April.
  • The number of homes for sale (inventory) is down 22% compared to May 2012, but increased 4.3% month-over-month. This is the second month-over-month increase in a row.
  • Home sales rose 14% from 2012, and gained 16% from April.

For the full report including data tables, charts, and a downloadable spreadsheet with historic data, visit the Real-Time Price Tracker in Redfin’s new Research Center.