SINGLE-FAMILY HOMES

For the year to April 30, unit sales are down 36% compared to the same period last year. Dollar sales are down 44%. Median price is exactly the same, but average price is down 13%. After rising 20%-25% per year during the 2020-2022 frenzy, prices are probably not going to rise this year. We are no longer seeing multiple offers written as soon as a home is listed, and offers above asking price. However, there is still more demand than supply, so it’s still a seller’s market—just not as lopsided as it was for two years.