During May 2023, Phoenix metro area experienced a decline in sales volume compared to May 2022, with a total of 5,906 homes sold. This represents a 0.5% decrease in sales volume compared to the previous year among the top 15 metro areas. It is noteworthy that despite of the change in sales, the market remained consistent in terms of home transactions.experienced a decline in sales volume compared to May 2022

Meanwhile, New York metro area experienced the most notable decrease in sales volume for single-family homes during the same timeframe. In May 2023, the sales volume declined by 30.2% compared to the corresponding month in the previous year.This indicates a substantial decrease in real estate activity and suggests potential challenges in the New York housing market during that period.

Learn more about the metrics in PropMix Market Insights.

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