Re/Max, First American surveys show higher prices don't equate to inventory rise

Transactions are high and inventory remains low

The overall inventory of homes for sale rose in May; however, two reports describe a market that is still underperforming in comparison to historical norms. According to Re/Max’s National Housing Report, the inventory of homes for sale increased by 0.4 percent in comparison to April. The average days on the market for a home stood at 64 days, only a two-day reduction when compared to May of last year.