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Median price, inventory drops in most markets tracked

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Median list prices and for-sale inventories were down in nearly all markets tracked by during May, reversing trends seen in April.

At the national level, the median list price fell 1.56 percent from April to May, to $188,900. That compares with a 6.7 percent increase in median list price in April that nearly reversed 10 consecutive months of declines.

The median list price was down in 126 of 146 markets tracked, falling by more than 5 percent in 23 markets — including 14 in Florida.

The nine other markets where monthly median price declines exceeded 5 percent were Chattanooga, Tenn. (-17.8 percent); South-South Carolina rural statistical area (-6.52 percent); Tucson, Ariz. (-5.77 percent); Chicago, Ill. (-5.71 percent), Jersey City, N.J. (-5.5 percent); Columbia, S.C. (-5.41 percent); Phoenix-Mesa, Ariz. (-5.41 percent); York, Pa. (-5.08 percent);