Up to 2.5 million is a balanced market for buyers and sellers.  2.5-4.0 million has improved in “month’s supply” but still has over 1 year of supply. 

4-5 million shows the biggest improvement with a balanced supply (probably based on new construction sales in this category.  The one category unchanged with nearly two years of supply is the over 5 million price range.  To date however, there have been 15 closed sales in PV over 5 million.  

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.