There were 21.5% more homes for sale in May of this year compared with the same time in 2022, as the shortage of properties eased slightly, according to a report ꦗfrom Realtor.

While inventory improved from a year earlier, the growth rate slowed for a third straight month in May.

The total number of homes for sale, including ▨those under contract, decreased by 0.2% compared with May of last year.  

The number of pending listings also declined by 18.1% compared with the same time last year, accord꧒ing to the Re⭕altor analysis. May’s figure is slightly lower than the 22.5% decline in April, and improved from the peak decline in December at 36.9% year-over-year. 

Although home sales have dipped, it could be a sign of the beginnings of🀅 a market recovery, according to the report. 

“The stabilization and improvement in pending home sales could suggest that the number of home sale transactions has bottomed 𝔉out and is making a slow and bumpy recovery,” the rꦦeport said. 

Pickup in the South ✤driving inventory recovery nationwide

The number of homes for sale in the 50 largest metro areas in the U.S. increased by 20.8% compared to last year. Inventory growth came almost entirely from 澳洲幸运5开奖号码历史查询:larger metros in the South, although inventory ♎in that region was still 40.9% below pre-pandemic levels. 

Nashville saw 124.76% year-over-yea꧂r inven🥃tory growth, while Austin grew 112.5%, and San Antonio grew 93.4%. 

In the Midwest, inventory grew only 1.5% year-over-year, and was down 54.6% compared with pre-pandemic levels. In the West, inventory in large metros dropped by 5.2% compared to last year and was 37% below pre-pandemic levels. Inventory declined 8.5% in the Northeast and was 61.6% below pre-pandemic levels.