"Higher interest rates, tougher lending rules and pipeline uncertainty continue to dog the market. Single family home sales fell to 10 year lows, while total listings climbed to more than a third above year ago levels. Some long term value may begin to appear in the market, as sellers adjust prices to current market conditions."
Susi Woulds, Remax Landan
May Market Data:
. Total Sales: 1,726, down 18.39% year over year.
. New Listings: 4,368, up 13.04% year over year.
. Total Listings: 8,450, up 36.01% year over year.
. Average Days on Market: 46, up from 37 last year.
Benchmark Sale Prices:
. Detached House: $504,500, down .43% year over year.
. TownHouse Condo: $333,600, up .54% year over year.
. Apartment Condo: $256,200, down 3.90% year over year.