The NWMLS just came out with it's May update looking back at the market during April. Their headline "Brokers detect good news for home buyers, citing gains in listings and moderating prices" accurately describes what's going on. In terms of supply and demand, we saw more homes come on the market and that helped moderate bidding wars and pricing. Even with moderation, we're still in a seller market with less than a on- month supply of homes. Here are the points I found most relevant:
- Active listing increased 57% from the same month a year ago and 14% from this March to this April.
- In 16 of the 26 counties, had at least a 20% increase in active listings
- Pending sales increased 47% from the same month last year, but decreased 2.58% from this