DENVER, CO — RE/MAX’s May 2025 housing market report revealed an 8.6% increase in home sales compared to April, marking the fourth consecutive month of rising transactions. However, sales remained 3.5% below May 2024 levels, reflecting continued market adjustments amid broader economic conditions.
Inventory growth was another key trend, with the 52 metro areas surveyed reporting an 8.3% month-over-month increase and a significant 34.8% year-over-year jump. This marks the 17th consecutive month of annual inventory expansion, signaling improving conditions for homebuyers.
“Rising sales, growing inventory, declines in days on market, and steady prices are all encouraging signs for the housing industry,” said Erik Carlson, CEO of RE/MAX Holdings, Inc. “It’s great to see the spring market end on a solid note, and we’re optimistic that this momentum could carry into an active summer season.”
The Median Sales Price rose modestly for the 23rd consecutive month, reaching $442,000 in May, a 0.6% increase from May 2024. New listings followed suit, increasing 4.4% from April and 7.9% year-over-year, extending a 15-month streak of annual growth in this metric.
Kristen Jones, Broker/Owner of RE/MAX Around Atlanta, observed notable changes in her region. “The Atlanta housing market saw more homes coming to market and a noticeable uptick in sales compared to April. Inventory is rising, and homes are sitting on the market a bit longer, giving buyers more options and greater leverage when it comes to negotiations,” Jones said.
Regional and Metric Highlights
New Listings:
May saw a 7.9% year-over-year increase in new listings. Washington, D.C. led with a 25.4% jump, followed by Fayetteville, AR (+25.1%), and Wichita, KS (+23.7%). Conversely, Minneapolis, MN (-7.1%), New Orleans, LA (-4.4%), and Miami, FL (-2.5%) experienced declines.
Closed Transactions:
While May sales were down 3.5% year-over-year, they rose 8.6% month-over-month. Wichita, KS, recorded the highest yearly gain at +14.1%, with Hartford, CT (+7.8%) and Fayetteville, AR (+7.4%) also performing well. Miami, FL (-16.5%), Honolulu, HI (-14.2%), and Tampa, FL (-11.8%) saw notable declines.
Median Sales Price:
The median sales price reached $442,000, marking a 1.0% increase from April and a 0.6% rise from 2024. Trenton, NJ (+9.9%), Hartford, CT (+8.5%), and Honolulu, HI (+8.3%) posted the largest annual price gains, while Bozeman, MT (-12.0%), Tampa, FL (-3.7%), and Seattle, WA (-3.2%) reported decreases.
Days on Market:
Homes spent an average of 39 days on the market in May, two days fewer than in April but five days longer than in May 2024. Baltimore, MD (12 days), Washington, D.C. (13 days), and Manchester, NH (14 days) had the shortest averages. Miami, FL, and Fayetteville, AR, tied for the longest at 76 days.
Months’ Supply of Inventory:
Inventory reached a 2.5-month supply in May, up from 1.9 months a year earlier and 2.4 months in April. Miami, FL had the most supply at 7.0 months, while Hartford, CT was the least supplied at 0.9 months.
The May 2025 housing report highlights a more balanced market, with growing inventory providing buyers with expanded opportunities, while steady prices and rising sales indicate continued industry resilience.
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