Market Intelligence Report
May was a selective market. Mortgage rates moved between 6.4% and 6.75% throughout the month, creating uncertainty and forcing buyers to evaluate every purchase more carefully. That hesitation slowed some activity, but demand never disappeared.
The luxury market continued to lead the way, with contracts over $1 million significantly outperforming last year's pace. Inventory tightened again, with active listings declining 17 percent year over year, leaving well-positioned homes with limited competition.
Buyers remain active, but they are selective. Condition, presentation, and pricing matter more than ever. If rates remain near current levels, expect competition for the best properties to continue through the summer.
~Dewayne
Highest
Pending Sales
The third week of May produced the highest number of pending sales of any week this year, with the luxury segment leading the move despite rate volatility throughout the month.
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