LK Marketing and Real Estate

As the weather warms and pandemic restrictions ease across much of the
country, the U.S. housing market shows little sign of cooling. Robust buyer
demand, fueled by low mortgage rates, continues to outpace supply, which
remains near historic lows. Nationwide, inventory remains much lower than it
was at this time last year, and sales prices are surging as a result.

Local Highlights:

• May 2021 average sales price for new and existing homes combined ($314,313) is 22.2% higher than May 2020.

• There were 3,974 home sales (new and existing combined) for May 2021, which is 17.1% higher than last May (3,393).

• Home inventory (new and existing combined) for May 2021 (3,011) is 53.6% lower compared to May 2020 (6,488).

• The supply of new and existing homes for May 2021 is currently 0.8 months.