1st Look at Local Housing Markets in May, Inventory up Sharply

"Home sellers really need to re-think their expectations"

This is the first look at local markets in May. I’m tracking about 35 local housing markets in the US. Some of the 35 markets are states, and some are metropolitan areas. I’ll update these tables throughout the month as additional data is released.

My view has been that the slowdown in the housing market would show up in inventory first. And we are seein…