According to a HouseCanary survey, real estate agents and sellers put 332,965 net new listings on the market in May, down 16.6% yearly. Inventory dropped the most at the lower end of the market, with house listings under $200,000 down 27.4 percent from May 2021. The number of listings in the $200,000 to $400,000 range fell by 26.9%. HouseCanary CEO Jeremy Sicklick said that listings that entered contract in May were down 10.9 percent from a year ago, indicating that the market is cooling.
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