This chart speaks volumes about housing demand! May 2020 Closed Sales were at only 2,872 units down from 3,787 total closed units a year ago May 2019.
But the Median Sales Price rose from last May 2019 from $293,000 up to $295,500 in May of 2020.
Less available homes on the market equals higher demand and pushes the sales prices.
We are experiencing 2020 pricing at an inventory level similar to that of May 2013.
What does this mean? It's a great time to Sell!!!!
Is it a great time to buy? Absolutely, because interest rates are excellent right now.