May Market Action Report – May brought moderate activity increases in pending sales and closed sales. Average closing price for May was $402,500, a 1.2% increase from the previous month. Average housing prices were up 11.9% year-to-date. The inventory ratio remained tight at 1.4, same as last month. Average days on the market decreased -33% since last month thus indicating home buyers are becoming more seasonally active. For more on the May statistics, download the latest RMLS Market Action Report here.