Research from Redfin found that homes sold at their fastest pace in nearly two years. The typical property stayed on the market for only 28 days.
The numbers nearly broke the May 2013 record – 35.6 percent of homes went under contract within two weeks of their debut, compared to 35.8 percent exactly two years ago.
Simultaneously, steady buyer demand and a plateau in inventory slowed down price growth. The median sale price in May was 6 percent higher, rising to $259,900.