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Local Housing Market Rebounds
In May 2023, 1,397 new listings came on the local market and 846 homes exchanged hands via LSTAR's MLS® System. While the number of new listings is 23.9% lower than in May 2022, the number of sales is 1.3% higher than a year ago. LSTAR's overall sales-to-new listings ratio for the entire area stood at 60.6% last month, while inventory continued to decline, dwindling from 1.8 months in April to a mere 1.7 months in May.