May looked very similar to April. Strong buyer activity, interest rates in the low 6’s and low inventory. It’s the low inventory that is the driver of the stats below. The number of settled properties (down 18% from this time last year) would be much, much higher if there more homes available. Because of the low inventory, multiple offers is still the norm, allowing appreciation to continue. If you are thinking about buying and/or selling a home in Lancaster County I am happy to talk with you about how the current market conditions should help guide your decisions.
June 16, 2023