【Zillow】Zillow’s May Market Report: The housing recovery is back on pause

May housing results were disappointing for those hanging on to hope of a stronger year for sales. Home sales and new listings fell behind last-year levels in May as mortgage rates steadily rose. 

New listings have historically peaked in May or June but sellers pulled back this May; new listings ticked down 0.8% month over month, and now stand 4.1% lower than last year. 

Sales trended up from April, rising 4.8% month over month, but fell off the historic trend line, declining 2.9% from last year. 

READ MORE