Home Sales Report May of 2022

On June 21, 2022, National Association of Realtors® (NAR) reported that nationwide existing home sales lower 3.4% to annual rate of 5.41 million homes in May of 2022 from 5.80 million homes in April of 2022, and fell 8.6% from 5.92 million homes from May of 2021.

There were 1.160,000 homes supplies of available inventory in May of 2022, jumped 12.6% from April of 2022, but dropped 4.1% from 1.21 million homes in May of 2021; while, there were 2.6 months available inventory in May of 2022 rose from to 2.2 months in April of 2022, and up from 2.5 months in May of 2021.

On average it took 16 days to sell a home in May of 2022, declined from 17 days in April of 2022, and from 17 days in May 2021.

First time buyers acquired 27.0% of homes in May of 2022,  lower from 28.0% in April of 2022, and from 31.0% in May of 2021.

Investors purchased 16.0% of homes in May of 2022, decreased from 17.0% in April of 2022, and lost from 17.0% in May of 2021.

Cash buyers purchased 25.0% of all sales in May of 2022, down from 26.0% in April of 2022, but higher from 23.0% in May of 2021.

Lawrence Yun, NAR chief economist, stated "Nonetheless, homes priced appropriately are selling quickly and inventory levels still need to rise substantially – almost doubling – to cool home price appreciation and provide more options for home buyers."

For more complete information, on NAR's May 2022 existing home sales report, please click HERE

John Pusa

Real estate agent, Glendale, CA

Better way to buy and sell real estate

Berkshire Hathaway Home Services Crest

Office (818) 441-8881

Mobile (818) 441-8881

4005 Foothill Blvd.

La Crescenta, CA. 91214