The National Association of REALTORS® (NAR) does a monthly update on housing market facts and figures.
Take a look at NAR’s May 2019 housing minute data:
- First-time buyers drove 32% of all sales – the exact same percentage of first time buyers in May 2018.
- 20% of all sales were cash sales, one percentage less than may 2018.
- 19M home sales occurred in May 2019, -0.4% from last month and -4.4% fewer sales than May 2018.
- $267,300 was the average home price in May 2019, a +3.6% increase from last year.
- 67M active listings in May 2019, a +7.7% increase from last year.
- Average days on the market (DOM) targeted 24 days in May 2019.
According to NAR’s chief economist, Lawrence Yun, “Job creation is improving, causing wage growth to align with home price growth. This helps with affordability and will help spur more home sales.”
Pending home sales dropped -1.5% compared to April 2019 and decreased -2.0% compared with April 2018.