The Northwest Multiple Listing Service reported Home Buyers Are "Better Off," But Market Is Heating Up



Year-over-year (YOY) closed sales rose about 1.6 percent (from 9,011 in May 2018 to last month's total of 9,153).

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The MLS report for May shows 16,133 active listings at month end, up from the year-ago total of 12,956. King County recorded the largest gain in total inventory, at more than 62 percent, but supply remained below 2 months in that and several other counties.



System-wide there was 1.76 months of supply at the end of May, well below the 4-to-6 months that experts say indicate a balanced market.

emphasis added

The press release is for the Northwest. In King County, sales were up 5.8% year-over-year, and active inventory was up 62% year-over-year.. This is another market with inventory increasing sharply year-over-year, but months-of-supply in Seattle is still on the low side at 1.9 months.