May pending home sales hits all-time high: first time over 9,000 homes put under agreement in one month

Please read our statement on the pending sales data that was released on June 12, 2013

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May was a big month for homes going under agreement. In fact, it was the biggest month MAR has ever recorded for both single-family sales and condominiums. Rising home prices and rising interest rates pushed buyers and sellers to come together unlike any month before. Inventory is still very low, but rising prices should encourage more homeowners, who are thinking about selling, to put their homes on the market.

Link to May 2013 Pending Sales News Release

Here are the highlights:

  • Single-family pending home sales were up 83.6% compared to May 2012 – biggest increase since MAR has been tracking the data
  • 9,075 is the most homes ever put under agreement in any one month
  • Condo pending home sales were up 63.2% compared to May 2012
  • 3,469 is the most condos put under agreement in any single month

 

May 2013 Pending
(click on graph to enlarge)