Seattle area in a 4-way tie for fastest-selling homes at 12 days

by Timothy Inklebarger

The typical increase in home sales as summer approaches failed to materialize nationwide last month, with average sales dropping 0.2% from April to May, while month-over-month sales in Seattle bucked the trend slightly, climbing 0.4%, according to the RE/MAX May National Housing Report.

RE/MAX provided a pre-pandemic average from 2015-2019, showing that the average gain from April to May is 13.9%.

Nationwide, the number of months of available housing inventory sunk to 1.1, while in Seattle the number of months’ supply dropped by a third from April to 0.4 months. That’s a third of what it was a year ago when the number stood at 1.2 months.

The report noted that Seattle tied with three other cities — Boise, Idaho; Omaha, Nebraska; and Nashville, Tennessee — for the metro areas with the fastest-selling homes. Those four areas averaged 12 days on the market.

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