Total Sales
2,150
-3.5% YoY
New Listings
6,115
-7.6% YoY
Active Listings
16,917
-1.0% YoY
HPI Composite
$1.10M
-6.2% YoY
Analyst View
May 2026 produced 2,150 sales — down 3.5% from last year and a striking 26.6% below the 10-year seasonal average. The GVR is framing this as a "calm and orderly" market with prices "flat month-over-month," but that framing buries the real story: demand is running at multi-year lows while active inventory sits 34.6% above the seasonal norm. Prices are stable only because sellers keep meeting buyers on price — the composite benchmark is still down 6.2% year-over-year. The apartment segment led the weakness this month (sales -7.2%, benchmark -0.7% MoM) as new completions pile onto already-elevated standing inventory. With detached homes firmly in buyer's-market territory at a 10.7% sales-to-active ratio, buyers remain in control heading into summer.
