05/27/2026
Your May Real Estate Market Report! 🏡 Last month we noted that a divergence was emerging between sales trends in the detached and multi-family segments, which continued in April,” said Andrew Lis, GVR chief economist and vice-president data analytics. “Sales of detached homes have been gaining year-over-year, while sales in the multi-family segment have declined, and this pattern is consistent across most areas. The fact this pattern is so broad-based reduces the likelihood what we’re seeing is just a blip in the data since the momentum isn’t isolated to small pockets of the market. While it’s not always the case, there have been periods where the detached segment has acted as a bellwether of market sentiment, and it’s a question whether this time around this might be the case,” Lis said. “Prices across all segments remain relatively flat month over month as inventory levels remain sufficient to keep price escalation at bay. But with the detached segment picking up steam heading into the full swing of spring, it may only be a matter of time until the multi-family segments follow suit, which would slowly draw down standing inventory levels unless a surge of sellers come to market with their properties. We’ll be watching the next few months of data closely to see if pent-up demand re-enters the market heading into summer.”
