Source: Housing Wire —
Median home-sale prices hit yet another record high in May — up to $377,200, a 26% increase year over year. And 54% of homes sold above their asking price in May — another record high, up from 26% a year ago, according to a new report from Redfin.
The report also shows the housing market also set new records for home-selling speeds and competition, although seasonally adjusted home sales and new listings flattened from April. Leading indicators of housing market activity are also declining into June, signaling that the pace of the market may be slowing, according to Taylor Marr, Redfin lead economist.